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Wednesday, 3 August 2016

OMV unhappy with Iranian oil contracts and talks over debt sour outlook | The National

OMV unhappy with Iranian oil contracts and talks over debt sour outlook | The National:

"Iran’s oil contracts are not yet fit for the Austrian energy group OMV to invest in planned projects in the country, which hopes foreign investment will revamp its ageing oil infrastructure, OMV’s chief executivesaid on Wednesday.

In May, four months after most international sanctions against Iran were lifted after it agreed to shrink its nuclear programme, OMV signed a memorandum of understanding with the National Iranian Oil Company for several projects there.


The OMV chief executive Rainer Seele said talks to fine-tune a model contract for international oil companies have not been successful yet."



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