Iran forces oil companies to conform

Beijing News.Net
Sunday 4th November, 2007

Iran has threatened to re-examine international oil companies which have shown reluctance to develop petroleum projects in the country.

Noghrehkar-Shirazi, the Deputy Minister of Petroleum, said other companies were being briefed to replace any international oil company ready to abandon development projects in Iran

International Oil Companies have been holding back on development projects due to international sanctions on Tehran for its nuclear program.

Overseas oil company officials have privately said they do not wish to spend billions of dollars on risky exploration and development projects in Iran.

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