Iran says that the first deals under its new generation of oil contracts will be signed in October. The country’s conservative religious authorities seem to be sufficiently on board. But has gaining their acquiescence come at the cost of making the deals unattractive to foreign investors?

Iran’s Deputy Oil Minister for International Affairs Hossein Zamaninia says that he expects the first contract with foreign oil firms under the new Iran Petroleum Contract (IPC) to be signed...