Iran sees banking channels opening up

16 Aug 2017   Iran

With foreign energy companies signing early deals with Iran, the country’s president said banking channels to the world could be opening up. Last month, a consortium of French energy company Total, China National Petroleum Corp. and Petropars Ltd., a subsidiary of the state-run National Iranian Oil Co., signed a 20-year contract to help develop parts of the giant South Pars natural gas field in the Persian Gulf. It was the first contract since Iran implemented a multi-lateral nuclear deal in early 2016. With Iranian President Hassan Rouhani earning a second term in office earlier this year, the Total-led deal cleared a path for future investments from foreign energy companies. Rouhani, who helped steer the post-sanction economy, set a goal of signing 10 new […]

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