Iran Signs Oil Deal with Vietnam

A00237921.jpgTEHRAN (FNA)- Iranian state oil company and Vietnamese oil group Petrovietnam signed a $115 million deal for the exploration of Iran’s southwestern Dana oilfield near Iraq.

Western firms, fearful of Washington’s harsh reaction, have been wary of investing in Iran, but the same restraint has not been demonstrated by Asian countries facing increasing demand for oil.

Iran, the world’s fourth-largest crude oil producer, has in recent months concluded deals with firms from China and several Southeast Asian nations.

On March 11, Iran announced a deal for a refinery in Indonesia capable of producing 300,000 barrels per day.

Meanwhile, Tehran is moving to ease gas rationing restrictions, nine months after they were imposed, as millions of Iranians are about to go on tourist trips during the new year holidays, starting from the next week.

Iran’s Economy Minister, Davoud Danesh Jafari, said his country had “no choice” but to offer Iranian drivers extra gasoline.

“Many of our people, if they are in need of fuel, and they have no access to it, they are willing to get it at a higher price from others,” Danesh-Jafari.

Check Also

Saudi Arabia wants in on Nile dam dispute

Saudi Arabia has stated its step into the deadlock between Egypt, Sudan and Ethiopia over …