Lukoil Iran Operation Depends on Sanctions Lift
Russia’s second largest oil producer Lukoil will start projects in Iran following removal of sanctions, Chief Executive Officer Vagit Alekperov said.
“Technical talks for the development of Iran’s oil fields have been concluded and we have to wait for the lifting of sanctions on Iran to be able to start work,” he told reporters in Vienna.
A new round of US sanctions against Iran took force starting November 5. They cover Iran’s oil exports and more than 700 banks, companies and individuals.
However, the US authorities granted temporary waivers for eight countries, among them Greece, India, Italy, China, Turkey, South Korea, Taiwan, and Japan.
Alkeperov had earlier said: “Sanctions that have been imposed against Iran, do not allow us to invest in projects there. In the middle of the year, we actively worked at the Mansouri field, the contract is almost ready, and we are currently finalizing it, though the signing is unlikely - we will not sign it until sanctions are removed.”
He also said that Lukoil would follow any order from Russia’s Ministry of energy regarding the amount of oil production.
He was in Vienna as OPEC and non-OPEC allies were meeting to cut oil production in order to shore up prices.
2-No Tehran-Seoul Oil-for-Food Deal
Iran’s foreign ministry denied media reports about an oil-for-food deal between Iran and South Korea as US sanctions take effect.
“Some media have reported the signature of an oil-for-food deal between Iran and South Korea, which I deny,” foreign ministry spokesman Bahram Qasemi said.
“Rumormongering and fake remarks like oil-for-food [deal], which are announced from certain centers, are unfounded,” he said.
Asked about talks under way between Iran and Europe regarding the latter’s Special Purpose Vehicle (SPV), a mechanism designed to facilitate Iran’s oil sales, Qasemi said: “We are optimistic and we hope that this process will go ahead smoothly.”