THE Iranian Oil Ministry’s bid this summer to launch its new foreign investment terms for upstream projects — including international tenders for an initial 10 to 15 priority schemes — appears to have fallen behind schedule by at least two to three months because of political infighting.
The terms of the Iran Petroleum Contract (IPC) devised over the past couple of years to attract foreign investors have yet to be finalised, despite being officially described as “ready” and awaiting ratification last June.
The
