Iran's Rouhani to address Western oil CEOs in Davos




 
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Iran's Rouhani to address Western oil CEOs in Davos
 
January 22nd, 2014  
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Topic: Iran's Rouhani to address Western oil CEOs in Davos


Iran's Rouhani to address Western oil CEOs in Davos
Iranian President Hasan Rouhani will address a panel of top global oil executives on Thursday as the Islamic Republic steps up efforts to win back investments from oil companies as part of its rapprochement with the West. Rouhani will give a short speech to chief executives from oil majors such as Eni, BP, Total and Shell, according to several executives who meet on the sidelines of the annual World Economic Forum in the Swiss Alpine resort of Davos. Tehran wants Western oil companies to revive its giant ageing oilfields and develop new oil and gas fields once sanctions are lifted and is improving its oil investment contract in order to lure them in. Western sanctions imposed on Iran for its nuclear program have choked Tehran's production - output is down a million barrels per day (bpd) since the start of 2012 to 2.7 million bpd - costing billions in lost oil revenue.




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