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“Iran will offer foreign partners incentives to find and pump more crude and natural gas and will pay some fees in barrels as it seeks to boost income once international sanctions are lifted. New contracts Iran is developing will offer higher fees for riskier exploration and production projects, oil-ministry officials said at a conference in Tehran yesterday. Local and international executives attended a two-day meeting to discuss rules that would govern oil and gas production if Western curbs on Iranian energy exports are removed. The committee revising the Islamic republic’s contract model presented terms called the ‘Iran Petroleum Contract.’ ‘We’ve analyzed all the contracts in the market right now, all available beneficial models, and this is what we’ve come up with,’ Mehdi Hosseini, a government energy adviser who leads the ministry committee, said at the conference. ‘This is a good model, with flexibility.’ Russia’s OAO Gazprom (GAZP), China National Petroleum Corp. and Malaysia’s Petroliam Nasional Bhd., or Petronas, were among a dozen foreign firms the organizers said attended the conference. Western European companies were not present…International companies will act as the sole operator at oil and gas exploration blocks and will be responsible for the risks of those projects. NIOC may be a technical partner in the developments. The ventures will have 15 to 20 years to pump oil after seven to nine years of exploration under the new contracts, Hosseini said. Fees paid to international companies will be linked to the oil price and determined on a sliding scale, with riskier developments paying more, Hosseini said.” (Bloomberg, “Iran Plans Higher Fees for Riskier Oil Fields in New Accords,” 2/24/14)
“Russia's economy chief on Wednesday announced plans to visit Iran amid reports of the two sides nearing a mammoth oil-for-goods deal that has raised consternation in the United States. Economy Minister Alexei Ulyukayev told Russian media his late April trip would focus on a ‘wide range of trade and economic issues’ but provided no further details.Moscow's Kommersant business daily on January 16 said the two close trading partners were negotiating a barter agreement under which Russia could import up to 500,000 barrels of Iranian oil per day. Russian officials have neither confirmed nor denied the discussions…Other reported aspects of the proposed deal would see Russia's state-run energy behemoth Gazprom get access to natural gas deposits controlled by Iran in the Caspian Sea. Russia's private crude producer Lukoil also confirmed on Wednesday that it was in talks with the Iranian oil ministry about resuming work in its energy sector once the Western sanctions are removed.” (AFP, “Russian minister plans Iran trip amid oil deal reports,” 2/12/14)
"Iran will have a new, attractive investment model for oil contracts by September, its president and oil minister told some of the world's top oil executives here on Thursday, part of its drive to win back Western business. Iranian President Hassan Rouhani and Oil Minister Bijan Zanganeh said their new administration was keen to open up to Western investments and technology, executives who attended the meeting said. They also stressed the importance of fossil fuel, with global energy demand rising. ‘The fact that the president of Iran came to the meeting today... is clearly a sign that Iran wants to open up to international oil companies,’ said Paolo Scaroni, chief executive of Italy's Eni, who was at the meeting. ’It was an impressive presentation,’ said one of three further oil executives who were at the meeting and spoke with Reuters on condition of anonymity. ’They said they are working on a new model to work with investors and are happy to see us,’ he added. ‘They not only need money but technologies. They are happy to have consultations about how new contracts shall work. They want to decide on the model by September.’ ’The message was - look at us, our geological risks are minimal, reserves are huge, come and we will create competitive terms and you will be happy. Your return on investments will be acceptable,’ another executive said. Along with ENI, France's Total, Britain's BP , LUKoil and GazpromNeft from Russia, and several other companies were present.” (Reuters, “Iran lures oil majors with new contracts pledge,” 1/23/14)
“Iran has dropped Russian giant Gazprom from an oil field project near the Iraqi border, claiming development is taking too long. Hamid Karimi, a senior Oil Ministry official, is quoted by the semiofficial Mehr news agency as saying that a consortium of Iranian companies will replace Gazprom in the Azar oil field project… Years of sanctions have deterred significant investment by international companies with deep pockets and technical expertise.” (AP. "Iran drops Russia’s Gazprom from developing oil field, claiming delays," 8/29/11)
"Russian natural gas company Gazprom announced Thursday that it was exploring ways to cooperate more closely with Iran in the energy sector. Gazprom chief Alexei Miller welcomed Iranian Deputy Vice President for Economic Affairs Ali Agha Mohammadi to Moscow to discuss bilateral energy issues. 'The parties discussed the opportunities for Russia and Iran to develop cooperation in the oil and gas industry,' the Russian company said in a statement. 'Special attention was paid to the global energy market trends and the issues of strategic partnership within the Gas Exporting Countries Forum activities.' ... State-run Gazprom has played a role in the giant South Pars gas field off the coast of Iran since 1997." (UPI, "Russia, Iran explore energy times," 4/8/11)
Gazprom may be planning to begin gasoline shipments to Iran, after many European and American petroleum companies halted gasoline shipments in the wake of new sanctions (Bloomberg).
"Iran's negotiations to finalize an oil-fields deal with Russia's OAO Gazprom Neft (SIBN.RS) are in the final stages...Russia has come into trouble with Iran after agreeing to support U.S. efforts to get new sanctions from the UN Security Council, but speaking to Dow Jones Newswires, Hojatollah Ghanimifard, vice president in charge of investment affairs at the National Iran Oil Co., said 'we hope to have a final decision soon,' on the Gazprom Neft deal. In November of , Gazprom Neft, the oil arm of Russia's OAO Gazprom, signed a preliminary agreement with NIOC to help develop the Azar and Shangule oil fields." (Wall Street Journal, "Iran Talks with Gazprom Over Oil Fields Reach Final Stages," 6/26/2010).
"The enormous New York State Common Retirement Fund plans to divest $86.2 million in investments from nine companies doing business in Sudan and Iran...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries.'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli. The fund plans to divest out of $86 million in Gazprom (OGZPY), Inpex (1605.TO), Lukoil (LUKOY), Oil And Natural Gas Corp (500312.BY), OMV (OMVKY), Petroleo Brasilia (PBR), Statoil (STO), Wartsila OYJ and Sinopec Corp. DiNapoli said the firms were chosen because 'they failed to respond or we were not satisfied with their responses' when asked to provide information to the fund on the investments and their risks. (Dow Jones Newswires, "NY Comptroller To Divest $86.2M In State Pension Fund Investments", 6/30/09)
"Russian giant Gazprom (GAZP.MM) agreed last year to take on more Iranian gas projects and has invested about $4 billion since 2007 in the country." (Reuters, "Q+A: Iran's oil supply and potential for disruption," 6/15/09).
"New Jersey is poised to jettison $360 million worth of stock in 11 companies to comply with new state legislation that prohibits state investment in firms doing business with Iran, officers of the pension fund reported yesterday. The companies to be shed under the Iran prohibition are all international engineering or energy firms, including Lukoil and Gazprom, that have financial ties to the government of Iran." (The Star-Ledger, "State to shed $360M worth of stock in firms tied to Iran," 3/21/08)
"Russias Gazprom, the worlds top gas producer, said on Tuesday it will take on big new energy projects in Iran, a move likely to anger the United States which wants Tehran isolated over its nuclear work. State-controlled Gazprom, which supplies a quarter of Europes gas needs, said it had agreed to develop more phases of Irans giant South Pars gas field and drill in the countrys oilfields. Gazprom, together with Frances Total and Malaysias Petronas, has already invested in phases 2-3 of massive South Pars gas field, a project worth around $2 billion." (Reuters, "Gazprom, Iran agree new large new large energy projects," 2/19/08)
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