Following the US decision to reimpose sanctions on Iran, Indian Oil Corporation is evaluating the impact if Iran was to further invest in its subsidiary’s expansion projects.
National Iranian Oil Co (NIOC), which holds 15.4 per cent stake in its subsidiary Chennai Petroleum Corp Ltd (CPCL), has invested in CPCL years ago which will not draw any impact of US sanctions. “But we need to study the impact of US sanctions if NIOC brings in fresh investments as its share of equity portion of the expansion project, said IOC chairman Sanjiv Singh, adding NIOC is keen to partake in its expansion project.
