EU oil firms eager to resume Iran ties: Report

The executives of some major European oil companies have reportedly visited Iran to re-establish energy ties with the Islamic Republic.

The executives of European energy firms including France’ Total and Italy’s Saras have visited Iran in recent weeks to hold talks with the National Iranian Oil Company (NIOC), Reuters reported on Thursday.

Meanwhile, other European oil firms have expressed willingness to return to the Iranian market.

“The best way for companies like us to go back to Iran is to follow strictly the sanctions and push both parties to reach an agreement which will lead to the lifting of sanctions one day,” Chief Executive Paolo Scaroni of Italy’s multinational oil and gas company, Eni, told reporters in Davos, Switzerland, on Thursday.

On the sidelines of the OPEC ministerial meeting in Vienna in early December 2013, Iranian Oil Minister Bijan Namdar Zanganeh said Tehran would like to see seven oil giants, including Total, Royal Dutch Shell, Norway’s Statoil, Eni and British Petroleum, as well as the US Exxon and Conoco, make investment in the Islamic Republic’s energy sector once US-led sanctions are lifted.

On January 20, the Council of the European Union suspended part of the sanctions it imposed against Iran following the Geneva nuclear deal between Tehran and the Sextet of powers – the United States, Britain, France, China, Russia and Germany.

The new measure incorporates suspension of a 2012 ban on insuring and transporting Iran’s crude oil and the sanctions on trade in gold, precious metals and petrochemical products.

By Press TV


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