Iran to privatise oil and gas sector

* username: rupertbu

Iran plans to privatise its oil refining, petrochemicals and oilfield services sectors but it may have problems finding buyers.

Under the threat of stiffer sanctions over its nuclear programme, the second-largest OPEC oil producer is seeking to accelerate the sale of state assets to help balance the government’s books and revitalise its troubled economy.

Now, even some parts of Iran’s previously sacrosanct petroleum industry could be up for sale in a reversal of the country’s previous policy of strict nationalisation of oil and gas assets.