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Iran says no restrictions for U.S. companies to partake in oil projects

Xinhua, January 31, 2017 Adjust font size:

Iran's Petroleum Minister Bijan Namdar Zanganeh said here Tuesday that U.S. companies can establish themselves in Iran's oil projects, Iran's Labour News Agency (ILNA) reported.

"If U.S. companies want to work in Iran's oil industry, there will be no restriction for them from Iran's side," he was quoted as saying.

However, "no American company has directly applied to work in Iran's oil industry so far," Zanganeh told ILNA.

The remarks followed U.S. President Donald Trump's recent executive order to restrict immigration from seven Muslim countries, including Iran, that he said are "compromised by terrorism."

Earlier January, the National Iranian Oil Company invited 29 companies from 14 countries to submit tenders for the country's oil and gas projects.

The move represents a big step to open up Iran's oil and gas fields to Western investment, Iran's Petro-Energy Information Network said. Endit