Iran offers service contracts on oil production in the country to Russian oil and gas companies, Russian Deputy Minister of Energy Kirill Molodtsov said Wednesday.
MOSCOW (Sputnik) – Oil market turbulence caused oil prices to plunge from $115 per barrel in June 2014 to less than $30 per barrel in January 2016. Crude prices are currently fluctuating between $40 and $50 per barrel. "The Iranian side says at ministerial-level consultations that, for example, direct parameters on production-sharing agreement are a scheme which is very hard to implement. They say this scheme is impossible for them. They are offering service contracts," Molodtsov told reporters.
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Poster Comment:
US oil firms have world's best expertise and Americans could use the jobs but it's a no-no with Israel which determines US foreign policy through its control of Congress.