Iran lays out new IPC framework in Tehran
Over the course of last weekend, Iran outlined the contractual terms on its new Iranian Petroleum Contracts (IPCs). Iran hopes to use the new contract terms to attract international investors to its oil and gas industry as it seeks to draw in $280 billion in foreign investment. Iran hopes the substantial amount of foreign investment will help it revitalize its oil and gas sector with the goal of taking its production to 5 MMBOPD.

The contracts are meant to replace the old buy-back contracts previou...

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