The Iranian government has approved the launch of oil and gas contracts under the country’s new foreign investment rules, in an apparent signal that it has won a heated domestic debate over opening up the sector to international oil companies.
First Vice President Eshaq Jahangiri sent out a directive to the oil and finance ministries to start the process on 23 August, two days after the long-running dispute between reformists and hardliners came to a head with the appearance of Oil Minister Bijan Zanganeh in a closed session of parliament.
