Oil rivals exploit western absence in Iran

By Najmeh Bozorgmehr

At this week’s annual exhibition for Iran’s beleaguered oil and gas industry, the stands set aside for western companies have some noticeable vacancies. Of the 1,255 Iranian and foreign companies present, companies from Asia, as well as Russia and Ukraine, are increasingly visible.

A shift towards partners from friendlier nations such as China, India and Russia helped Iran’s oil and gas sector survive even if such partners offer a product that may not be up to the standards of the market leaders.

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