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Iran deal would help domestic firms

Iran’s bureaucracy has been nervously watching the unfolding negotiations with the P5+1 group of global powers

The outcome was unknown at time of press but most pointers suggest a deal will eventually be agreed this year that will lead to the unwinding of sanctions and the Islamic Republic’s re-emergence as a major hydrocarbons power. This will benefit local companies, with consequences for foreign investors desperate to lay their hands on the oil and gas wealth. Iran and the six other countries agreed a deadline of 30 June to reach an accord that would swap the curbing of Tehran's nuclear activity for relief from economic sanctions. That deadline was extended but the negotiating teams seem committed to seeing the deal through. Iranian officials are eager to capitalise on the fresh attention that h

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