28 Nov '15, 3pm

Iran unveils upgraded model for oil contracts: Iran unveiled a new model of oil contracts Saturday a... https://t.co/935f8zXBdI #Oil #BRK

Iran unveils upgraded model for oil contracts Iran unveiled a new model of oil contracts Saturday aimed at attracting foreign investment once sanctions are lifted under a landmark nuclear deal reached earlier this year and said U.S. companies would be welcome to participate. The new Iran Petroleum Contract replaces a previous buyback model, in which contractors paid up-front investment costs in return for proceeds from the oil produced under the deal. Iran has sweetened the terms, hoping to bring in $30 billion in new investment. The new contracts last 15-20 years and allow for the full recovery of costs. The older contracts were shorter term, and investors complained of heavy risks and suffering losses. Some 50 upstream oil, gas and petrochemical projects are being introduced during a two-day conference in Tehran that began Saturday. Iran will pay foreign oil companies la...

Full article: http://peakoil.com/publicpolicy/iran-unveils-upgraded-mod...

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reuters.com 01 Dec '15, 9am

NEW YORK Crude futures were down on Tuesday on bets that OPEC will not cut output to stem a supply glut when the world's b...

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Comment E-mail to friend Bookmark & Share Australia introduced new investment rules yesterday aimed at cracking down on fo...

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