GPS News  
OIL AND GAS
Iran takes note of foreign investors
by Daniel J. Graeber
Tehran (UPI) Dec 2, 2016


disclaimer: image is for illustration purposes only

With Washington keeping its hold on the sanctions noose, the president of oil-rich Iran said foreign investors were moving into its economy.

Iranian President Hassan Rouhani unveiled a draft budget plan that includes special credits for employment and billions of new dollars for construction. The president said that, since sanctions pressures eased in Iran in response to a multilateral nuclear deal, Iran was spared some of the economic shortfalls experienced by its oil-producing peers.

"Iran for the first time in its history not only withdrew nothing from its emergency reserve funds but also deposited 20 percent of its petrodollars into its National Development Fund over the past two years," he said in an address.

Iran is one of the main producers in the Organization of Petroleum Exporting Countries. It reported to OPEC that it produced about 3.9 million barrels of oil per day in October, a figure that's about 25 percent higher than the average from last year.

Iran aims to draw new investors to an oil sector previously restricted by sanctions. Oilfield services company Schlumberger, which has its main offices in the United States, recently signed a memorandum of understanding with an Iranian oil company for data-sharing.

"Foreign investment has started in our country," Iran's president said.

His announcement followed a unanimous vote in the U.S. Senate to extend the Iran Sanctions Act for another 10 years. The measure targets energy and other Iranian industries, though the U.S. president can ease restrictions. Many of the measures were suspended when the United Nations verified this year that Iran was complying with the terms of the multilateral agreement.

U.S. President-elect Donald Trump pledged to reconsider the nuclear deal, though several U.N. Security Council members are involved. In supporting the extension, U.S. Sen. Bob Menendez, D-N.J., said it was those sanctions that brought Iran to the negotiating table in the first place.

"We need to send a signal to Iran that the United States, while meeting its obligations under the [joint nuclear deal], will continue to respond to other threatening and dangerous activities the Iranian regime has taken," he said.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Manmade earthquakes in Oklahoma on the decline
Stanford CA (SPX) Dec 02, 2016
New regulations in Oklahoma that call for reductions in the amount of wastewater being injected into seismically active areas should significantly decrease the rate of manmade, or "induced," earthquakes in the state, Stanford scientists say. "Over the past few years, Oklahoma tried a number of measures aimed at reducing the rising number of induced quakes in the state, but none of those ac ... read more


OIL AND GAS
'I feel like I'm being exploited': Deliveroo riders seek recognition

Danish supermarket offers fresh take on expired food

1.4 bn jobs depend on pollinators: report

Sweden slaughters 200,000 hens on bird flu fears

OIL AND GAS
For wearable electronic devices, NIST shows plastic holes are golden

Spray-printed crystals to move forward organic electronic applications

Making spintronic neurons sing in unison

World's fastest quantum simulator operating at the atomic level

OIL AND GAS
Blues skies thinking to improve aircraft safety

Bolivia may purchase Brazilian Super Tucanos

Kuwait to buy 28 F-18 warplanes: official

Israel orders more F-35 warplanes from US

OIL AND GAS
Car manufacturers to juice Europe with e-charging network

MPs to grill Merkel over VW 'dieselgate' scandal

China slaps new 10% tax on super-luxury cars

Could moving walkways be the key to car-free cities of the future?

OIL AND GAS
China puts brakes on overseas spending spree

Nasdaq head hopeful Trump will refine, not kill, trade

China merges steelmakers to forge new national leader

China factory activity growth accelerates in November

OIL AND GAS
Scientists say North should commit to pay for forest conservation in South

Tribal protesters with arrows try to enter Brazil's Congress

Remote Amazon tribe kills illegal gold miners: officials

Large forest die-offs can have effects that ricochet to distant ecosystems

OIL AND GAS
NASA Selects Launch Services for Global Surface Water Survey Mission

Early warning from space of homes on the slide

Major space cooperation agreement signed by Italy-Japan Business Group

NASA launches Advanced Geostationary Weather Satellite for NOAA

OIL AND GAS
ANU demonstrates 'ghost imaging' with atoms

Supersonic spray yields new nanomaterial for bendable, wearable electronics

Researchers use acoustic waves to move fluids at the nanoscale

Researchers use graphene templates to make new metal-oxide nanostructures









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.