Mediaboss Marketing

DUBAI Iran has imposed no restrictions on U.S. oil firms willing to participate in energy projects in the country but American sanctions make such cooperation impossible, Iran's deputy oil minister said on Monday.

"Iran has not imposed any restrictions on the U.S. companies, but they cannot participate in our (oil and gas) tenders due to the U.S. laws," Amir Hossein Zamaninia, deputy oil minister for trade and international affairs, was quoted as saying by state news agency IRNA.

"Based on the U.S. Congress sanctions, the American oil companies cannot work in Iran," he added.

Iran said on Saturday that it will hold the country's first tender in mid-February since the lifting of international sanctions to develop oil and natural gas fields.

OPEC's No. 3 oil producer hopes to draw foreign companies to invest in Iran and boost output after years of under-investment. However, foreign firms have so far made little inroads into the country despite the lifting of sanctions.

President Donald Trump's new U.S. administration on Friday imposed fresh sanctions on Iran, which it said were just initial steps. It said Washington would no longer turn a "blind eye" to Iran's hostile actions.

Dismissing the new sanctions, Zamaninia said "such actions have had no effect, and international companies are still keen to do business with Iran."

Anglo-Dutch oil firm Royal Dutch Shell (RDSa.L) signed a provisional deal in December to develop Iranian oil and gas fields South Azadegan, Yadavaran and Kish.

(Reporting by Bozorgmehr Sharafedin; Editing by Adrian Croft)

MANILA Philippine Environment and Natural Resources Secretary Regina Lopez will not reconsider her decision to shut down 23 of the country's 41 mines, saying the Southeast Asian nation is "unfit for mining."

LONDON Royal Dutch Shell is seeking to sell its stake in the Danish Underground Consortium (DUC), an offshore oil and gas joint venture, in what would mark the company's effective exit from Denmark, three banking sources said.

SINGAPORE Singapore Exchange has held talks with Saudi Aramco on a secondary listing, two sources familiar with the matter said on Monday, after the oil and gas company suggested last week it would likely simultaneously list on more than one exchange.

Read the original:
Iran says US sanctions stop American oil firms taking part in projects - Reuters