VOL. XLVII
No 20
17-May-2004
IRAN
NIOC Pushing To Loosen Iranian Oil Contract Terms
The Iranian Majlis (parliament) has approved a proposal by the National Iranian Oil Company (NIOC) to revise the oilfield exploration and development contracts offered to international oil companies (IOCs), in a move which represents the first step by the state firm to encourage further investment in upstream projects. On 28 April the Majlis approved a revised version of the buyback contract, which was offered to...
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