How Will Iran Respond to Trump's Ban?

He may be controversial, but no one can accuse Trump of being an dormant President. Not only has he attempted to close borders to a blacklisted set of Muslim-majority states, but he’s also threatened to reshape America’s international trade agreements.

Though despite ill feelings between the America and Iran, Oil Minister Bijan Zanganeh has confirmed that there will be no ban imposed for US companies wanting to do business in the republic.

"American companies [will] face no ban for entering our oil industry," he confirmed in a recent interview with ILNA news agency.

The promise came just days after President Trump passed an executive order suspending both visa processing and entry into the USA for citizens of Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen.

Iran welcomes US oil investors

Iran’s willingness to embrace foreign companies is no secret, with the nation acting fast on the lifting of Western sanctions in 2016. Already, the republic has struck deals with giants such as Total, Lukoil, CNPC, Sinopec and Petronas. The aim is to fast-track development of Iranian oil and gas fields, and hit production targets of one million barrels per day. It’s a lofty goal, though Iran is determined to reclaim its status as OPEC’s second-biggest producer.

Zanganeh maintains that continuing to welcome US oil companies to Iranian soil will play an important role in boosting production, and reopening fields that were forced to shut down when sanctions kicked in.

Zanganeh determined to revive oil industry

Despite his validation that US companies are still welcome in Iran, he also confirmed that to date, no American entities have “directly applied” for participation in the country’s energy industry recovery scheme. In early January the National Iranian Oil Company released a list of 29 approved foreign oil companies that will participate in 2017’s oil and gas tenders. Another list is set to be released later in the year, with three Russian companies already confirmed. Whether US companies will make an appearance on the list is yet to be seen.

Political instability has oil and gas majors on edge, which means maximising flow assurance is now front of mind. ‘Oil flow assurance issues: tetraacids in deposits and crude oils’ spotlights the latest in-house research from Plymouth University. The team hones in on the issue of calcium naphthenate deposition, which jeopardises the successful and economical flow of hydrocarbon stream from oil reservoir to the final point of sale. Unlike emulsion formation caused by organic compounds, calcium naphthenate dries on contact with air to form hard deposits that slowly build up in topside equipment, and can lead to serious production losses.