Russian, Iranian firms ink $635-890 Mln supply contract: Reuters
A subsidiary of Russian state defense company Rostec, United Engine-building Corporation (UEC), is preparing a $635-890 million supply contract with Iranian oil firm Kala Naft Tehran, Russia's TASS news agency reported on Wednesday. If successful, the contract would further strengthen commercial ties between Moscow and Tehran after the rolling back of Western sanctions on Iran over its nuclear program last month.
Cancellation of Iran oil meet signals infighting: Reuters
Iran’s cancellation of a conference where it had been set to unveil investment contracts to international oil firms signals that political feuding is disrupting plans to revive its energy sector. Tehran blamed snags in obtaining British visas for Iranian delegates to the long-delayed conference, which had been scheduled to be held in London on Feb. 22-24. However, foreign oil executives say factionalized politics in Iran, where elections will be held later this month, appeared to explain the delay as the country seeks major investment following the lifting of international sanctions last month.
Iran, Brazil in talks on investment in Brazil refineries: Reuters
Iran and Brazil are in talks about a possible Iranian investment in troubled refinery projects controlled by Brazilian state-led oil company Petroleo Brasileiro SA, a Brazilian government source told Reuters. Iran is interested in exporting oil to Brazil, processing that crude at refineries in Brazil’s northeastern region and then selling it in the Brazilian market, the source said, adding that talks are at an early stage. Talks though are far from any result, the source added.
Austrian Christof Group keen to participate in Iran’s petchem projects:Tehran Times
Christof Group, an Austrian industrial holding, is willing to transfer its technology to Iran’s petrochemical industry, said Johann Christof, the CEO of the company. The directors of Christof Group and Iran's National Petrochemical Company (NPC) met in Tehran on February 9 where the Austrian company announced its readiness to participate in development, design and construction of Iranian petrochemical facilities.