US companies can establish themselves in Iran's oil projects, Petroleum Minister Bijan Namdar Zanganeh said on Tuesday.
"If US companies want to work in Iran's oil industry, there will be no restriction for them from the Iranian side," Xinhua news agency quoted him as saying.
However, "no American company has directly applied to work in Iran's oil industry so far", Zanganeh said.
The remarks followed US President Donald Trump's order to restrict immigration from seven Muslim-majority countries including Iran.
The National Iranian Oil Co in January invited 29 companies from 14 countries to submit tenders for the country's oil and gas projects.
The move represents a big step to open up Iran's oil and gas fields to Western investment, the country's Petro-Energy Information Network said.
--IANS
py/vt/mr
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app