.
.
.
.
Language

Davos: Iran promises new model for oil contracts

Iran’s President Hassan Rowhani attends a session at the World Economic Forum in Davos. (Reuters)
Iran’s President Hassan Rowhani pictured in Davos. (Reuters)

Davos: Iran promises new model for oil contracts

President Rowhani and Iran’s oil minister say attractive investment model will be in place by September

Followed Unfollow

Davos, Switzerland

Published: Updated:

Iran will have a new, attractive investment model for oil contracts by September as it is keen to win back Western business, Iran’s president and oil minister told some of the world’s most powerful oil executives at a historic meeting in Davos, Switzerland.

Three oil executives who were at the meeting and spoke with Reuters on condition of anonymity said Iranian President Hassan Rowhani and Oil Minister Bijan Zanganeh had stressed the importance of fossil fuel, with global energy demand rising.

The two Iranians also said the country’s new administration was keen to open up to Western investments and technology as part of its drive towards rapprochement with the West.

“It was an impressive presentation,” one of the oil executives said.

Get the latest stories from AlArabiya on Google News
Also Read
Editor's Choice
White House preparing to relocate Afghans who helped US White House preparing to relocate Afghans who helped US
Palestinian Authority critic Nizar Banat dies in PA custody, UN demands investigation Palestinian Authority critic Nizar Banat dies in PA custody, UN demands investigation
Top Content
Regardless of the election result Ethiopia’s expansionism is doomed to fail Regardless of the election result Ethiopia’s expansionism is doomed to fail
Palestinian Authority critic Nizar Banat dies in PA custody, UN demands investigation Palestinian Authority critic Nizar Banat dies in PA custody, UN demands investigation
Saudi Arabia announces end of Hajj registration with over 500,000 applicants Saudi Arabia announces end of Hajj registration with over 500,000 applicants
White House preparing to relocate Afghans who helped US White House preparing to relocate Afghans who helped US
US may need to rethink strategy on nuclear deal with Iran: State Department official US may need to rethink strategy on nuclear deal with Iran: State Department official
Will add warning about rare heart inflammation to Pfizer, Moderna vaccines, says FDA Will add warning about rare heart inflammation to Pfizer, Moderna vaccines, says FDA
Before you go
Pope calls for reconciliation, healing over Canada school discovery
Pope calls for reconciliation, healing over Canada school discovery
Explore More