Iran’s Petroleum Minister says it plans to introduce by June a new generation of oil contracts that are more attractive to investors.

Mahdi Hosseini, head of the contract revision committee in the ministry, told reporters Sunday that sanctions imposed on Iran over its nuclear activities drove the revisions.

He said the new contracts are designed for the “post-sanction era,” but did not provide details.

So far Iran has allowed oil companies to work on its fields under contracts known as “buybacks.” Hosseini said many companies complained about their costs under this scheme.

Iran signed in November a six-month interim deal with world powers in which it stops some nuclear activities in return for sanctions relief. It begins negotiations this month to reach a final deal.

9 Comments on "Iran to introduce ‘new generation’ of oil contracts"

Davy, Hermann, MO on Mon, 10th Feb 2014 1:57 pm 



Iranians are good businessmen! Yet, I think they are being optimistic with all the lingering risk that will remain even if this latest round of diplomacy succeeds. They will have to pay a risk premium.

Makati1 on Mon, 10th Feb 2014 2:29 pm 



Davy, I’m not too sure about that. The major oil companies are probably drooling over the oil there and want it any way they can get it. If they can do it without a war, so much the better.

After all, the Empire only wants to get the Iranian banks into the Western cartel so they can control the money flow and skin the profits. It’s all about keeping the dollar on top. It would be nice if the new contracts were all in gold or perhaps Euros or Yuan … lol.

Davy, Hermann, MO on Mon, 10th Feb 2014 3:19 pm 



Makati, not seeing the drool on my end, sorry. Maybe Chinese but they will whore any possible production OP. Your meme on the dollar, oil, and sanction politics is still partially valid but we are in a new normal. This new normal is speeding past this old thinking. This is the reason Iran and the western powers are even talking. The old petro dollar meme is worn out, the whole empire slogan is passé. The gold theme well just look to turkey how that has worked out for them. You mentioned the western cartels, again old pre-new normal spew. In the new normal it is worldwide financial system skimming and pillaging nations, currencies, commodities, and our worldwide social fabric. The US is no longer alone at the top financial superpower. It is a multipolar financial world with many big players. These folks border hop. They go where the returns are. They switch passports as needed. They use countries resources as needed through a complex society of patronage, connections, and affiliations. Makati get up to date man!

Northwest Resident on Mon, 10th Feb 2014 5:35 pm 



Davy — Well said.

DC on Mon, 10th Feb 2014 7:32 pm 



The western oil cartel *always* complains about arrangements where they dont dictate the terms. They complained about Libyas cost sharing terms too. They complained to the US military that is, so they ‘took’ care of the ‘unfriendly’ business attitude Ghadafi had. Iraq had an attitude problem as well, selling oil in Euros instead of dollars. Iran seems to think appeasing western oil corps with ‘better’ terms is a good strategy? They should think again. The US put the Shah in power for BPs benefit. I wouldn’t role out the red carpet for BP and US oil corporations, but its not my call.

Sorry guys, you can go on all you like about how oil-for-dollars is ‘yesterdays’ news, but the very first place the US corporate military made a beeline for in Baghdad, was the Oil ministry. And amerikas first, and indeed, only priority, was to promptly switch Iraqi oil sales back to the dollar.

So no, without dictating the terms of world oil sales, amerika would not be running that 17 Trillion debt pile or, suppressing interest rates to near zero. Alone in the world, amerika can print dollars out of thin air to pay for oil. Nothing else props up the uS hegemony like its sole petro-dollar hegemony-for now.

Davy, Hermann, MO on Mon, 10th Feb 2014 8:00 pm 



Thanks, N/R

DC, talk to a few Libyans about what happened in Libya and tell them what you said above. They are liable to spit on you. You just called them pussies and act like they shed no blood. Complaining and dictating in business is all about negotiations to make a return on the effort. Last I heard people in business are in business to turn a profit. Maybe you know some that think otherwise and do sheeple business contracts. Damn, DC, the Iraq war was back in 2003, I believe we are in 2014 in a new normal? I doubt that was the ‘ONLY PRIORITY” of the Iraq invasion I imagine knowing the neocons it was high on the list though. DC do you know the nature of the 17 trillion debt pile. Do you know what it means to have a world reserve currency? Do you realize the global world economy had a “minsky moment” and nearly shut down? A significant portion of the original so called “debt pile” dug us out of a near collapse. I am sorry about the QE’s and the zirps but hard to take away the punch bowl. The subtle nature of the whole post Lehman world financial crisis is much more nuanced then printing dollars to pay for oil. US Hegemony, hmmm, please explain, oh you mean Elvis and how took the world by storm. Yea, world never got over Elvis.

Makati1 on Tue, 11th Feb 2014 1:47 am 



Davy, it is still the dollar that takes the Empire to war. The US cannot exist without wars. That’s why they have been continuous since the 1900s.

As for being up to date…lol… perhaps it is you who need to look in new places for your info. China is taking care of China. They are just doing with almost worthless dollars what the US does with guns and killing. I do not see anyone running the financial world but the Western banking cartel that is after the few countries not part of it.

As for gold … have YOU seen the gold in Fort Knox? Nope! No one has in the last 50+ years. I think it is long gone and that is another problem of the Empire. It is more than the world’s biggest debtor, it is also among the poorest in resources. Gold is the one thing most everyone considers to be money, a store of wealth. Has been for over 5,000 years and will be as long as there are humans on this ball of dirt. It is just there and in limited amounts which keeps it value high.

Your ‘new normal’ doesn’t exist. We are still in the same old Western plan to bring about the New World Order and the destruction of the middle class is the current activity in every Western country. But Asia is rising and the tide is turning. It will be interesting to watch. ^_^

Davy, Hermann, MO on Tue, 11th Feb 2014 2:17 am 



Damn, Makati, I have to say you win, man, I mean eventually one gets tired of talking to a brick wall. I am just going to let you spew your anger and distortion tonight because I am tiered. “But” tomorrow is a new day. Some strong coffee in the morning and I will be ready to defend the honor of my country from the barbarians.

Makati1 on Tue, 11th Feb 2014 2:19 pm 



Davy, your country is also mine for 14 generations, but I am not blind like you are. Have your coffee and then take a good look outside your door. The US you and I were born into is not the US of today.