Iran says no US firm signaled interest in its oil projects yet

Iran says it has seen no sign yet from US energy corporations to indicate they are interested in the country’s oil projects.

Iran’s Oil Minister Bijan Zangeneh has emphasized that “all international” energy companies are welcome to present bids for projects in Iran’s oil industry.

However, he says some companies are remaining on the sidelines.

“We have received no requests from any American company so far,” Zangeneh has been quoted as saying by the UPI.

The Iranian minister made the remarks during a visit to Tehran by a senior Japanese trade delegation that included representatives from the country’s oil companies.

World’s major energy businesses had to quit Iran’s projects over the past few years after a series of draconian sanctions was imposed on the country as a result of disputes over the Iranian nuclear energy program.

However, the last month breakthrough between Iran and the P5+1 group of countries over the Iranian nuclear energy program has already triggered hopes that companies can return to Iran’s lucrative oil industry as well as other economic sectors.

The breakthrough that was reached in Vienna on July 14 envisages the removal of economic sanctions against Iran in return for certain steps by the country to limit its nuclear energy activities.

Many international oil majors including Shell, Eni, Total and BP have already announced they would return to Iran once the sanctions are lifted.

However, American enterprises will nonetheless remain barred from venturing into the Iranian market as a result of the sanctions that the US administration and the Congress have devised against investments in the Iranian economy.