BP to Open Office in Iran in Summer, says NIOC
May 05 2016 - 11:48AM
Dow Jones News
By Miriam Malek
LONDON--Anglo supermajor BP (BP.LN) will open an office in Iran
this summer, according to Roknoddin Javadi, chairman of the
National Iranian Oil Company (NIO.YY).
Quoted on the state-owned oil news service Shana, Mr. Javadi
said BP is looking to transfer technology and capital to Iran.
BP's history of operating in Iran's oil and gas sector is
complicated. The company was expelled from Iran in the 1950s when
it was operating under the name Anglo-Persian Oil Company and Iran
decided to nationalize its oil and gas industry. After the company
ceased its production activities, BP held a trading relationship
with Iran during the pre-sanctions era.
BP's CEO Bob Dudley has previously been cautious on investing in
Iran. Speaking earlier this year, he said his company would choose
opportunities carefully.
Write to Miriam Malek at miriam.malek@wsj.com
(END) Dow Jones Newswires
May 05, 2016 11:33 ET (15:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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