Oil companies return to Iran

Moayed Khoseini Sadr, a member of parliament’s energy commission, said in an interview with ISNA that anti-Iranian sanctions forced out foreign oil companies, but the companies are now returning, Iran News reports.

Sadr noted that the number of companies willing to take part in the 16th international exhibition “Oil, Gas and Petrochemistry” has increased by 22%.

The official said that Iran has the world’s second largest oil and gas production. The country has high investment security and political stability. The 16th exhibition will demonstrate Iran’s achievements.

The international exhibition will open on April 15. It will see heads of foreign states and diplomatic missions in Tehran. The exhibition will be open on April 16-19.

The exhibition will have 1,390 companies, including 460 companies from Austria, Spain, Australia, UK, Italy, Germany, Turkey, Czech Republic, Denmark, Russia, France, Netherlands, Norway, India, Singapore, Japan, China, Thailand, UAE, Canada and Brazil.