Strengthening Local Enterprises Should Be NIOC Priority

Strengthening Local Enterprises Should Be NIOC PriorityStrengthening Local Enterprises Should Be NIOC Priority

The National Iranian Oil Company needs a policy paradigm shift to develop oilfields, a member of Iran's Institute for International Energy Studies said.
"The new model of oil contracts—the Iran Petroleum Contract—has not proven to be useful for the country as multinationals like Total are always afraid of US sanctions and do not honor their pledges," Gholamhossein Hassantash was also quoted as saying by ILNA. 
According to the official, although NIOC sweetened the terms of its oil contracts, it was not able to attract oil giants as it was planned.
"NIOC should have made an attempt to strengthen domestic companies instead of insisting on signing deals with international firms, which will never put themselves in danger," he said. 


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