Russian Zarubezhneft Says No Progress on Oil Projects With Iran

Russian oil producer Zarubezhneft OAO (ZRNFT) has “no result yet” from talks with Iran on joint oil projects, the company said.

“Iran is interesting for our company as a country with one of the biggest hydrocarbon resources, but we need an approval from the government to continue,” Zarubezhneft Deputy Chief Executive Officer Artyom Garibyan told reporters in St. Petersburg, Russia today. “We are in talks with the Iranian side, but there is no specific result yet,” he added.

To contact the reporter on this story: Anatoly Temkin in St. Petersburg at atemkin@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net