VOL. XL

No. 5

3-February-1997

IRAN

NIOC Denies That US Sanctions Deter Foreign Investment In Oil Industry

An unnamed official of the National Iranian Oil Company (NIOC) denied on 29 Januarythat US sanctions against Iran were deterring investments in the oil sector. "We donot think that the responses we have received from companies have been slow. they havebeen very satisfactory," the official said, pointing out that contracts for thedevelopment of the Balal and Soroush offshore oil fields...