Uncertainty now surrounds Iran's newly developed international petroleum contract after the head of the committee responsible for drawing it up indicated it would be presented only when sanctions against Iran are lifted. Iranian officials had planned to present the Iran Petroleum Contract (IPC) to international oil companies (IOCs) at a conference in November, but the Iranian government decided to postpone the event to February 2015 to allow maximum input for interested IOCs. The original date fell before the extended deadline of Nov. 24, 2014 for ongoing nuclear talks between Iran and world powers to strike a comprehensive deal.
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