European Oil Firms Stand Up And Get Counted In Tehran

Several of Europe’s biggest oil industry players converged on Tehran this week for what was the country’s first major oil and gas conference since the signing of the historic nuclear deal between Iran and world powers in July.

The removal of economic sanctions on Iran will herald a new era for the Iranian oil and gas sector, Oil Minister Bijan Zanganeh said this week as the country begins to rebuild its economic and energy relations with the world, and badly-needed foreign investment starts to flow back into the country.

Following the signing of the landmark nuclear deal with the international community in July, Iran is preparing for what should be the biggest opening of its key energy sector since the early 1990s, when it tried to lure foreign oil companies back after a 20-year hiatus following the 1979 Iranian Revolution. (CONTINUED - 1256 WORDS)