26 May 2024
Friday 6 May 2016 - 12:47
Story Code : 212687

BP to open Iran office in summer, Iranian oil firm says

BPseeks to transfer technology after lifting of sanctions, according to Iranian official

LONDONBritish oil giantBPwill open an office inIranthis summer, according to Rokneddin Javadi, chairman of the National Iranian Oil Company.

Quoted on the state-owned oil news service Shana, Mr. Javadi saidBPis looking to transfer technology and capital toIran.BP declined to comment.

The Islamic Republic once enjoyed major investments from a bevy of the worlds largest energy companies, but Western sanctions over its nuclear program forced the major oil companies out. Though many have shown interest in returning, uncertainty over the terms of working in the country and the legal restrictions still related to sanctions remain a major stumbling block.

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