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Opportunities & Risks in Iran

Is Iran back in the international oil business? It certainly looks like it, but what are the opportunities and risks for the IOCs and various services supporting the industry? Our guest contributor, Steve Macvicar, editor of Eurasian Business Briefing, takes a brief look at what’s going on in and around the Persian Gulf.

Ever since it became clear late last year that the world powers were ready to relieve Iran of its economic sanctions, a steady stream of high-ranking multinational executives has quietly been trickling into Tehran, intent on re-establishing old ties and forging new ones.

High ranking representatives from the oil industry have been at the front of the queue, including delegations from BP, Shell, Eni, Lukoil and Total, as well as from major contractors to the sector such as Saipem and Mitsui. Iran is back in business, and it seems everyone wants a piece of the action. [Read more…]

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