Iran’s NIOC, Russia’s Gazprom sign $40bn investment deal

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The National Iranian Oil Company (NIOC) and Russia’s Gazprom have signed a “historic” deal worth $40 billion for joint investment in oil and gas projects.

NIOC’s chief Mohsen Khojastehmehr and Gazprom’s deputy chairman Vitaly Markelov signed the memorandum of understanding (MoU) between the two state companies using a video conference link on Tuesday, according to a report by the Iranian Oil Ministry’s news service Shana.






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