• 5 minutes Global Economy-Bad Days Are coming
  • 8 minutes IT IS FINISHED. OPEC Victorious
  • 14 minutes Venezuela continues to sink in misery
  • 17 minutes Could Tesla Buy GM?
  • 4 hours OPEC Cuts Deep to Save Cartel
  • 3 mins Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 4 hours Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 7 hours U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 17 hours Price Decline in Chinese Solar Panels
  • 27 mins How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 39 mins Sleeping Hydrocarbon Giant
  • 3 hours What will the future hold for nations dependent on high oil prices.
  • 41 mins USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 5 hours And the War on LNG is Now On
  • 3 hours Air-to-Fuels Energy and Cost Calculation
  • 18 hours Rigs Down
Alt Text

Is This The Next Big Petrochemical Hub In The U.S.?

The next major petrochemical hub…

Alt Text

2019: A Pivotal Year For OPEC

2019 is shaping up to…

Alt Text

The Next Big Development In Offshore Oil & Gas

German tech company Siemens announced…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Is This The First Resource Opportunity From The Iran Deal?

We’re just days past a tentative nuclear agreement with Iran. And already signs are emerging that projects opportunities that could be coming here.

Such as in the oil and gas sector. Where Iranian officials said this week they are already eying Western involvement in the domestic sector.

The head of Iran’s committee to review oil contracts, Mehdi Hosseini, announced Sunday that the government will unveil a new array of contracts in the petroleum sector this September. Hosseini added that the government is specifically looking to investment from U.S. and European firms. Related: Why The Oil Price Collapse Is U.S. Shale’s Fault

As proof, the government said it will hold an international conference in London to unveil the September oil contracts. Demonstrating exactly who the target audience is for this bid round.

This obviously signals a major potential opportunity for E&P players. Iran’s oil and gas fields have proven, high-potential geology, and a lack of modern exploration — with foreign-backed investment in the sector having been limited over past decades to “risk service contracts”, where companies aided in development but were prohibited from owning reserves. Related: This Nation Could Host Next Latin American Offshore Boom

That hang-up — along with recent sanctions — led most big firms to pass by Iran’s fields. But the Iranian government has indicated that could all change this year. Suggesting that petroleum contracts will be reworked to offer attractive terms — including ownership of in-ground oil and gas reserves.

This week’s pro-West announcement from Iran also suggests opportunities could be coming in other resource sectors here. Mining, for example, where Iran holds world-class potential for copper porphyries, lead-zinc deposits and even gold mines. (Just last month, the scholarly journal Ore Geology Reviews dedicated a full volume to new research on Iran’s mineral potential.) Related: Media Spin On Oil Prices Running Out Of Fuel

Of course, all of this is contingent on a final deal with the West going through (and holding up). Watch for developments on the political front — if peace looks to be sticking, it may be time to think about adding this nation to our watch list.

Here’s to going un-rogue,

Dave Forest

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News