Middle East Economic Survey

VOL. LII

No 37

14-Sep-2009

IRAN

Indias IOC May Drop Out Of Consortium Developing Farsi Block

Indian Oil Corporation (IOC) CEO Shri S Behuria was quoted by Reuters on 3 September as saying that the ongoing financial crisis has forced the company to review its plans regarding its participation in the development of a gas find in Irans Farsi block. The times have changed since we moved into Iran, Mr Behuria said. At that time, our financial position was good but now we have...