Iran’s new oil investment contract to be ready by July

Iranian Deputy Oil Minister, Roknoddin Javadi has recently said that the Iran’s new oil industry investment contract for international oil corporations will be ready by July.

“The new contracts will be ready in June, July. We welcome investors from all countries,” Javadi stated. “Iran aims to sweeten the terms it offers on oil development contracts to attract foreign investors deterred by years of sanctions.

Hopefully we will have oil tenders with new oil contracts in July. Iran’s doors are open to all investors. Iran’s oil exports are expected to increase in the coming days to 2.2 million barrels per day (bpd). The country’s output has risen to 3.7 million bpd.”

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