Sunday 9 February 2014

Lukoil in Talks With Iran on Post-Sanctions Return, Mehr Says - Bloomberg

Lukoil in Talks With Iran on Post-Sanctions Return, Mehr Says - Bloomberg:



"OAO Lukoil (LKOH), Russia’s second-biggest oil producer, is in talks with Iran’s Oil Ministry about returning to the Islamic Republic to develop assets, Moscow’s envoy to Tehran said, according to Iran’s Mehr News Agency.



Russian Ambassador Levan Dzhagaryan said Lukoil was ready to resume work in Iran’s oil and gas sector after economic sanctions are removed, state-run Mehr reported today. Moscow-based Lukoil abandoned its work in Iran in March 2010, citing pressure from U.S.-imposed economic sanctions. 




Some of the U.S.- and EU-imposed restrictions on Iran, designed to target the country’s disputed nuclear program, were lifted two weeks ago under a Nov. 24 interim pact between Tehran and six world powers. Iranian officials have since held meetings with executives from several European oil majors, notably at the World Economic Forum in Davos and a December meeting of the Organization of the Petroleum Exporting Countries in Vienna."



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