VOL. XLI

No. 43

26-October-1998

IRAN

Confusion Mounts As Deadline For Submission Of Buy-Back Bids Approaches

As foreign firms gear up to meet the 30 November deadline set by theNational Iranian Oil Company (NIOC) for the submission of bids relating to thecompanys second buy-back tender, confusion has mounted over a number of conditionsimposed by the Iranian side. In a letter accompanying the bid packages, NIOC specifiesthat interested parties must submit three sealed envelopes as follows: (a) an...