GCC to get a 'kick' out of lifting sanctions on Iran
The return of Iran to the international community would be beneficial for its neighbouring countries including the Gulf Arab states, a top international oil executive has said.
Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) on Sunday, Christophe de Margerie, Chief Executive Officer of French energy company Total, said that while his comments may not be welcomed by some in the Gulf Cooperation Council (GCC) region, it was important to understand the advantages of sanctions against Iran being removed.
“Having Iran back in the international community will be good news,” he said on a CEO panel in Abu Dhabi alongside fellow oil and gas executives.
Iran has significant gas reserves and could play an important role as an energy exporter as global energy demands increase.
Iran becoming a mass energy exporter is largely dependent on the P5+1 discussion that failed this week.
Bob Dudley, BP Chief Executive Officer, said discussions of Iran re-entering the global community were “part of the world of change”.
Although he acknowledged that Iran “obviously has a lot of resources”, he sidestepped the potential for BP to return to Iran if sanctions were lifted. “We already have lots to do in the region,” he said.
- Oman’s Duqm tourist complex moves forward with government approval
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Tunisian Confederation of Industry, Trade, and Handicrafts fights nationwide unemployment levels
- Construction costs fall in Dubai
- Western tourists flock to Iran, could generate $30B in new revenue
- A global oil giant lost: Total CEO dies in drunkdriving Moscow runway collision
- Are the Gulf economies getting a kick out of the Crimea crisis?
- Kicking the wrong 'derrière': Iran's economic sanctions need to be placed on Israel
- Dubai at forefront of exploring Iran's new market potential
- The limitations of friendship: China to lose out from easing Iranian sanctions