Apr 18, 2015, 4:14 PM
News Code: 81575792
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Western companies eager to invest in Iran

Tehran, April 18, IRNA – Wall Street Journal wrote in its latest edition that Western oil companies are eager to invest in Iran.

Wall Street Journal said though international sanctions against Iran are still in effect, Western oil companies in a conference held in Vienna last week said they were eager to invest in Iran.

It said in the 2nd South Caspian Region Petroleum & Energy 2015 Summit, oil companies from various cities ranging from Houston to London and Vienna were present. The US Chevron Corporation (NYSE: CVX) and the UK Foster Wheeler AG (formerly Foster Wheeler Inc.) were among companies present in the conference. Participation of Western oil officials in a conference focusing on investment in Iran points to formation of a new landscape in Iran. Sanctions against Iran will possibly be lifted this year.

Iran and Western countries, led by the US, in April agreed on political frames of lifting sanctions against Iran. The final deadline to reach a final agreement with Iran is June 30.