IRAN

Iran Settles with Chevron and BP 

Chevron of the US announced on 29 January that it has reached agreement with the Iranian Government on the payment by the Iranians of $115mn in settlement of claims arising from the nationalization of the former Consortium's assets in Iran at the time of the 1979 revolution. The settlement covers identical payments of $57.5mn for the appropriated assets and 7% shares in the Consortium held by Chevron (as Socal) and Gulf (which was...