Vistar - Business Monitor

Implementation of Iran Petroleum Contract (IPC) and the Lost Appeal

Sept. 25, 2016 After many ups and downs, the general conditions governing Iran Petroleum Contract (IPC) have been finalized, and in the wake of the communication by the parliament speaker to government of the approved model of such contracts, IPC has officially landed on course to implementation. The latest communiqué by the Cabinet features the revisions underlined by senior establishment officials. Read more

Iran Can Provide Europe with Gas for 90 Years

Oct 12, 2015 The Financial Times wrote an article on Iran’s energy sector saying that the country has 34 trillion cubic meters of natural gas reserves, which are enough to feed European nations for at least 90 years. Iran is holding the biggest gas reserves in the world, but it has not yet developed its energy potential. Gas production is hardly responding to local consumptions. Sanctions, which have targeted Iran’s energy sector since 2007 affecting the business of multinational companies dealing with Iran, and the country’s legal boundaries in the energy sector (called buyback contracts which are not attractive any more for foreign investors) are blamed for the backwardness of the sector. Read more