Russia's Lukoil steps back on project with Iran

Iran_plans_with_Lukoil_on_hold_after_sanctions_@iranNW.jpgAs the new sanctions on Iran tighten Lukoil, Russia’s second-biggest oil producer said it won’t be going ahead with plans to develop projects in Iran at the moment.
One company official said on Tuesday that it’s too early to say what their plans about Iran will be, considering the latest developments and that everything is on hold.
Lukoil had been engaged in talks with Iran over the development of Abe Timur and Mansuri oilfields but now seeks to remain focus on its domestic business.


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