Monday, March 26, 2018

West and Iranian oil tasty morsel

West and the Iranian oil: a tasty morsel, and a hundred years of mutual resentment

AT
BP Headquarters
Plc to chic
London St. James's Square, still
then stored geological reports
the first oil well in Iran -
Masjid-i-Suleiman.


Opening
this field laid in 1908
the company's fundamentals, which later
It will be called British
Petroleum. Together
oil to Western companies opened
rich opportunities that
never before in the turbulent Middle
East and could not conceive. Since
the history of the oil industry in Iran
intertwined with the upheavals at
supported by the CIA, with colonial exploitation
and anti-Western sentiments of universal
Islamic Revolution.


Now, at that time, Iran and the United States
lead many to conclude negotiations
deal on the nuclear issue and to facilitate
sanctions on Iran to Western oil
companies again begins to loom
large profit. In fighting stance already
giants such as BP,
Royal Dutch Shell Plc, Eni SpA and
Total SA.
In the race
are going to participate and Chinese. AND
Only American companies, burdened
sanctions and legislation, are
on spectator stands.


The parties need each other


"Look
the history of the oil companies. This story
closely linked with Iran, "- says Nader
Sultan, oil consultant who
He led Kuwait
Petroleum Corp c
1993 to 2004
gg.


appetites
oil about returning to
Persia clear. Iran - is 10% of the world
oil reserves, fourth in the world
after Venezuela, Saudi Arabia and
Canada. Iran has almost 20%
the world's gas reserves: more - only
in Russia. "Iran - a major prize.
The amount of resources over here
attractive, "- says Oswald
Clint, oil analyst at Sanford
C. Bernstein Co.


Iran
I am also interested: the industry desperately
needs investment and foreign
specialists to raise production
hydrocarbons. The last decade,
Spent almost complete
isolation, combined with a devastating
legacy of the Iran-Iraq war of the 1980s
years - not the best background for the formation of
oil infrastructure. Tasks,
facing the industry in Iran,
clearly visible. Today, the country produces
2.8 million barrels per day, compared with
4.5 million ten years ago, and 6 million in 1974.
Her major fields, including
Gahsaran and Maroun, developed more
50 years of experience and "urgent need"
rehabilitation, according to information from
The International Energy Agency
(IEA).


The next
problem - all of these years, Iran has not developed
most of its gas reserves. it
It allowed Algeria, Australia and Qatar
(With whom he shares a part of the field)
to grab market share. It is unlikely that Iran will be able
without foreign investment to build
venture for the production of liquefied
gas, to establish marine export.


recovery
Investments in the oil sector, according to
many, the only reason
why do Iran went nuclear on
Negotiations with the United States, Britain,
France, Germany, Russia and China.
A year ago the country's new president, Hassan
Rouhani, speaking at the World Economic
Forum in Davos and in a speech openly
He flirted with European oil
companies.

Who will call the tune?


Interview,
conducted by Bloomberg
from
former and present oil bosses
consultants and diplomats showed
surprising unanimity. All say:
"Big Oil" is eager to return to the
Iran if the nuclear deal will zkalyuchena.
However, an agreement on the commercial
conditions may be more difficult than
It seems at first sight. "International
oil companies are keen to Iran, but only
on normal, favorable conditions ", -
said Robin Mills, an analyst at Dubai
company Manaar
Energt Consulting, which
I worked with Shell
at
Iran. He was echoed by Jason Bordoff,
former oil official from the White
house, which has been involved in the development
sanctions against Iran, and now teaches
at Columbia University. He says,
that Iran needs 50 - $ 100 billion
Investments in the oil sector to
start to get at least some income.
"Terms of the contract - a thing much more
important than it might seem, "- skazad
Bordoff, adding that the European
oil companies "went from Iran
even before the sanctions, which appeared in 2010
- 12 years, and the reason for this was mainly
terms of the contracts. "


After
twenty-year break caused by
Islamic revolution in the early 1990s
years, Tehran has decided to lure back
Foreign oil companies. he immediately
appealed to the US in 1995 was concluded
deal with Conoco
on
US $
1 billion,
which almost immediately we had to
terminate at the White Dalen
at home. After this false start, Tehran
signed several deals with European
companies (among them were Total,
and
Shell).
These
contracts, known in oil jargon
as the Bay-back offered by the company
not enough profit, and continued
5 to 7 years.


Minister
Iran's oil, which is currently developing
a new set of conditions, is now talking about
that there is a new, more
attractive model - "Iran
oil contract. " At first sight,
approve contracts and European
consultants and lawyers who saw them.
"Some of the conditions are similar to the tested
and proven production-sharing scheme
with Iraqi or Arab Emirates
Kurdistan ", - said Edrian Krid and
Amir Kordvani of law firm
clyde Co
at
London.


but
new conditions may not be sufficient.
The energy map of the world much
changed since the late 1990s. Compete
to attract dollars from Iraq and
Other countries need to have in the past
decade, and now may be longer
late in the day.


Now
Iraq is open to foreign investors, and
even Mexico for the first time made it possible since 1938
foreigners to invest in their
oil production. Iran is still in isolation
and deep in the tail from the point of view of
technology. Now his position on
the oil market is rated as "very
weak. "

Carry on whether the offended water?


AND,
Finally, another obstacle - a long
history of mistrust.


On
For decades, the predecessor
BP,
Anglo-Persian Oil Co, virtually
controlled power Iran and how
consequently, he has participated in almost every
aspect of political and economic
life of the country.


AT
a time when Iran voted
the nationalization of British oil stake
business on its wells in 1951,
London began with an embargo on
oil, and then organized a government
coup, codenamed "Operation
Ajax "by the CIA to overthrow
Nationalist government.


coup
and it was one of the key points in the
poisoned relations between the West
and Iran. nationalize property
quickly restored in the former possessions.
Group of oil companies, including
which were precursors of BP,
Shell, Total, Exxon Mobil, Chevron -
He organized the daily work
Iran's oil industry - but
then there was the 1979 Islamic Revolution
of the year.


Now
Western oil and Tehran should
somehow continue this turbulent past,
which has its roots in the distant 1908
year. Western officials say
they are willing to forget the mutual grievances. with
Iran to do likewise
signals.


Tomorrow
day will be a watershed in modern history
Iran, and what it will be - interested
all the big business world.


Javier Blas, for Bloomberg portal. Translation - Booka85



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