IRANIAN DEAL: $2.5 BLN
BOE wrote, Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, will start the process of rejuvenating its sanctions-ravaged energy industry on Tuesday when the state oil company signs a new-model oil investment contract.
National Iranian Oil Co. will complete a $2.5 billion deal with a group of local companies, according to an oil ministry official. The new type of contract, designed to better reward investment in oil and natural gas production, is seen by Oil Minister Bijan Namdar Zanganeh as crucial in increasing the country's…
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