PLEA Network

17 July 2015, The Independent, Iran nuclear deal: Oil majors have already started the scramble to tap the country’s rich resources. The race to exploit Iran’s vast and under-utilised oil and gas reserves has begun after the country struck a crucial deal to curb its nuclear programme in return for relaxing foreign sanctions on its energy and finance industries. Easing the sanctions imposed by the US, the EU and the UN in 2012 paves the way for a massive leap in Iran’s oil and gas production that will require Western production expertise. The Iranian government and the oil majors have been quietly courting each other in the run-up to the agreement, with companies such as BP, Shell, Eni, Statoil and Total all thought to be seriously considering a move into the country. Read More here