Iran: Tehran presses on with deals before Trump inauguration

National Iranian Oil Company (NIOC) has prequalified 29 international oil companies to bid for upstream projects. The list of companies was released on 2 January and included many of the world’s largest energy firms, including China National Offshore Oil Company (CNOOC), Russia’s Gazprom and Lukoil, Italy’s Eni, France’s Total and Royal Dutch Shell. However, there were a number of notable absences, including the UK’s BP and Norway’s Statoil. United States individuals remain barred from the Iranian market by sanctions imposed by Washington that remain in place. There has been speculation that BP is avoiding Iran due to concerns about the attitude US authorities may take to any deals, particularly once Donald Trump takes office on 20 January.