Wednesday, October 27

Iran Plans to Sell Oil in Exchange for Investment or Goods

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(Bloomberg) — Iran’s Oil Minister Javad Owji said his country is ready to sell crude oil and gas condensate to “any investor” in exchange for either goods or capital investment in the Islamic Republic’s sanctions-hit energy sector.

In comments shown on state TV, Owji said the ministry would welcome investment in both Iran’s upstream and downstream industries. He said the plans had been presented to Iranian lawmakers on Sunday and were pending parliamentary approval.

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