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Iran Races to Clinch Oil Deals Before Trump Takes Office

(New York Times) Thomas Erdbrink and Clifford Krauss - A provisional agreement this week with Royal Dutch Shell to develop two of Iran's largest oil fields is the latest sign of interest in the country from international energy companies. Over the last four weeks, Tehran has negotiated similar agreements with the oil field services giant Schlumberger and companies from China, Norway, Thailand and Poland. "Our officials are in a rush to sign contracts with big oil companies in order to have leverage when Trump enters the White House," said Saeed Laylaz, an economist with close ties to the government of President Hassan Rouhani. Iran's oil minister, Bijan Namdar Zangeneh, told Fars news agency in November that only foreign companies had the ability and capital to modernize Iran's crumbling oil and gas sector. "We need technology, including the management technology that allows a project to come into operation in four years rather than in 12 years. And above all, we need the money."
2016-12-09 00:00:00
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