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The Hill: US Oil Firms Meet Secretly in Tehran on Business Deals

Image: The Hill: US Oil Firms Meet Secretly in Tehran on Business Deals
Tehran, Iran. (Borna Mirahmadian/Dreamstime)

By    |   Thursday, 07 May 2015 02:25 PM

In anticipation of lifted sanctions, Iran has invited U.S. oil company heads and other investors to visit Tehran to discuss their mutual business interests, The Hill reported.

The country is interested in connecting with Western businesses as it offers massive crude oil reserves for the future, The Hill noted of the "shrouded in secrecy" talks.

The Hill attempted to confirm what U.S. companies would participate, but none of those oil concerns or their trade associations would discuss the trip.

"We will witness involvement of major international American oil and gas companies in Iran in the future," Iran's Deputy Oil Minister Abbas Sheri-Moghaddam told the Mehr News Agency, The Hill said.

The economic ramifications for the region are huge with Iran boasting the fourth-largest oil reserves and the second biggest gas deposits, Agency France Press reported, noting their untapped potential.

It added of the lifted sanctions: "A nuclear agreement will allow Iran to become the No. 1 energy player in the Middle East and herald major opportunities for foreign companies," according to top government officials in Tehran, speaking at an industry function on Wednesday.

The high hopes continue as Congress prepares to hold a final vote on an Iran nuclear deal Thursday and as some GOP lawmakers continue angry infighting over an agreement they believe could be harmful to world interests if not definitive, The New York Times said.

Despite the infighting, the deal is expected to pass.

The interim agreement on the table would work to dismantle Iran's nuclear initiative and would also require the nation to limit uranium enrichment and dispose of any nuclear material geared at creating a nuclear weapon, the Times said. It also includes international inspections.

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In anticipation of lifted sanctions, Iran has invited U.S. oil company heads and other investors to visit Tehran to discuss their mutual business interests, The Hill reported.
oil, tehran, iran, companies
280
2015-25-07
Thursday, 07 May 2015 02:25 PM
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