Iran introduces new model of oil contracts
Iran introduced its long-awaited new model of oil contracts, known as the Integrated Petroleum Contract (IPC), in a Tehran conference on Saturday. The IPC will replace buy-back contracts. It is expected to offer more flexible terms on oil price fluctuations and investment risks to make the sector more financially attractive. The IPC was first supposed to be unveiled in December last year in London. But in September, Oil Minister Bijan Namdar Zanganeh said Iran will hold a conference to unveil its new oil contracts in Tehran instead of ...
Click
To Read Full Article