Iran Races to Clinch Oil Deals Before Donald Trump Takes Office

[WhiteTara]

http://www.nytimes.com/2016/12/08/world/middleeast/iran-oil-sanctions-trump.html

TEHRAN — President Hassan Rouhani of Iran is racing to sign as many oil deals with Western companies as he can, before hard-liners at home and President-elect Donald J. Trump have a chance to return the Mideast country to cultural and economic isolation.

At the same time, Iran is in a battle with Saudi Arabia and other OPEC producers to reclaim its position as one of the world’s leading oil exporters, a spot it lost during the years of international sanctions over Tehran’s nuclear program.

A provisional agreement this week with Royal Dutch Shell to develop the South Azadegan and Yadavaran oil fields, two of the country’s largest, along with the Kish natural gas field, is the latest sign of interest in Iran from international energy companies.

A few days ago, Schlumberger, a giant oil services company, signed a memorandum of understanding to study several oil fields around Iran that are in decline to seek ways to lift production. Over the last four weeks, Tehran has negotiated similar agreements with the
The deals, if finalized, would bring much-needed expertise and foreign investment to Iran’s ailing energy sector.

Just as important, the agreements provide a lifeline to the rest of the world, experts say, critical to keeping dollars flowing and in cementing relations with European and Asian countries. Few Iranian officials like to acknowledge that in public, insisting that the country is immune to outside pressure, but the election of Mr. Trump and his selection of a national security team that views Iran as a major threat in the Middle East seems certain to usher in a new period of tensions.

[annabanana]

1. Trump and his oily pals will NEVER say no to oil. . . .n/t