Friday , 22 June 2018
Bijan Namdar Zanganeh, Iran's petroleum minister, looks on ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on Thursday, June 2, 2016. Saudi Arabia is ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the group as good as dead. Photographer: Akos Stiller/Bloomberg via Getty Images

Iranian Minister Says Ready To Do Business With U.S. Oil Companies

RFL/RE – Iran is ready to do business with American oil companies even though the United States still prohibits them from operating in the country, Oil Minister Bijan Zanganeh has said.

“American companies can come to Iran and benefit so [U.S. President Donald Trump] won’t be upset,” Zanganeh said, according to SHANA, the news site of the Iranian Oil Ministry.

Though most countries lifted restrictions on oil and gas companies doing business in Iran after Tehran’s 2015 nuclear deal with world powers was signed, the United States kept its ban in place.

“They’ve put up obstacles for American companies to come to Iran,” Zanganeh said. “We don’t have any restrictions for working or negotiating with American companies with the intention of developing the oil and gas resources of Iran. If they want, we are ready to negotiate with them tomorrow.”

Trump, in announcing he would seek changes in the nuclear deal last week, criticized Europeans for participating in Iran’s energy projects.

Since the deal was signed, French oil giant Total SA has entered the Iranian market and other European and Asian oil companies are looking to follow suit.

For major oil companies, Iran offers some of the world’s largest undeveloped reserves of oil and gas.

Based on reporting by AP and Reuters