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India’s major energy and petrochemical producers visit Iran

by ChemOrbis Editorial Team -
  • 23/07/2015 (14:35)
According to media reports, a delegation of executives from India’s major energy, power and petrochemical companies are currently visiting Tehran in order to seek out investment opportunities following the removal of economic sanctions on Iran.

India’s ONGC Videsh (OVL) is reportedly planning to make a bid for Iran’s Frazad-BB gas field in the Persian Gulf.

Iranian Ambassador to India, Gholamreza Ansari, commented that this is a “golden time” for India to study investment opportuinities in Iran.

Sanctions against Iran are set to be removed following the landmark nuclear agreement between Iran and the P5+1 (the US, Germany, France, the UK, Russia and China) powers in Vienna on July 14, with sources from the Iranian and American governments commenting that sanctions relief may materialize by the end of this year assuming Iranian compliance with the terms of the Vienna agreement.
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