Iran Eyes over $50bn Worth of Oil Contracts

Iranian Oil Minister Bijan Namdar Zanganeh said he would make efforts to pave the grounds for signing $50 to $60 billion worth of oil and gas contracts with foreign companies by the end of the current Iranian year (March 20, 2018).

Speaking to the Islamic Republic of Iran Broadcasting (IRIB) on Sunday night, Zanganeh, who won the vote of confidence from lawmakers earlier in the day, highlighted his ministry’s plans for attracting foreign investments in oil and gas sectors in his new term in office.

Zanganeh said he has submitted his general plans for the next four years to the parliament, adding that in the first step, he would pursue the short-term plans.

“We are trying to provide (the required conditions for signing) $50 to $60 billion worth of contracts this year,” he stated.

The oil minister further pointed to the positive international atmosphere created after the 2015 nuclear deal between Iran and six world powers, known as the Joint Comprehensive Plan of Action (JCPOA), and said, “We should protect and maintain the international atmosphere.”

(Source: Tasnim, under Creative Commons licence)

One Response to Iran Eyes over $50bn Worth of Oil Contracts

  1. Jim Pagan 23rd August 2017 at 6:11 pm #

    Good luck with the 6 World powers. Just don’t close your eyes and have an extra sets
    of eyes behind your head. Especially trusting the Low life Britt’s.You have obviously forgot about 1953?

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