Normalization of Int'l Ties Key to Attracting FDI

Iran's oil and gas industry cannot experience a turning point in attracting foreign direct investment unless it reduces investment risk by normalizing its relations with the world.
Mehdi Asali, the Oil Ministry's former director for OPEC affairs, made the statement in an interview with Shana on Monday.
"As long as constraints on financial transactions are not removed, the industry can neither have access to cutting-edge know-how nor be rehabilitated," he said.
According to the official, at a time when oil is being traded at around $60, OPEC members can be more successful compared with non-OPEC members in attracting investments to explore new hydrocarbon reserves and expand upstream industries.