Iranian Oil Ministry has unveiled a new model of oil contracts to attract foreign investments in the post-sanction era. Dubbed as Iran Petroleum Contract or IPC, the new framework is replacing its outdated "buy-back" contracts, and foreign companies will be paid with a share of oil output.
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11/29/15
Iran unveils new oil framework to lure foreign investors
Iranian Oil Ministry has unveiled a new model of oil contracts to attract foreign investments in the post-sanction era. Dubbed as Iran Petroleum Contract or IPC, the new framework is replacing its outdated "buy-back" contracts, and foreign companies will be paid with a share of oil output.
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