Iran Oil and Gas Market Update Nov, 2013

• Iran planning to scrap buyback contracts to attract oil investment.
• Tehran expects to complete third metro line in 2015.
• Iran invites firms to prequalify for dam water supply project – Contractors have until 24 November to submit bids for construction contract.
• Iran and Oman leaders discuss renewed cooperation as countries plan joint gas pipeline.
• Iran hopes for return to European crude markets: NIOC official – Iran hopes to regain its share of European crude markets lost as a result of the European Union’s ban on the import of Iranian oil that came into force in July last year, a senior official from the National Iranian Oil Company said Wednesday.
The comment came amid increasing optimism that US and European sanctions could be lifted in a matter of months if Tehran reaches a deal with the West on its nuclear program.
• Base Oil Group I Iranian origin prices marked up marginally