Farzan B gas field row: Iran threatens to replace ONGC Videsh Ltd with Russian firms

Farzan B gas field row: Iran threatens to replace ONGC Videsh Ltd with Russian firms

Iran has threatened to rope in Russian oil companies for developing the Farzad B gas field, replacing the consortium of Indian state-run entities that discovered it.

The threat comes in retaliation to New Delhi’s move to cut purchase of Iranian oil over Tehran’s delay in awarding the block.

Reports from Vienna quoted Iran’s oil minister Bijan Zanganeh as saying that he expected Russian firms to enter the field if the Indian consortium failed to come up with a satisfactory offer. Read more

Credits:economictimes.indiatimes.com

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