International oil companies (IOCs) chasing upstream deals in Iran, such as Total and Royal Dutch Shell, can breathe a sigh of relief now that the administration of US President Donald Trump has extended a waiver on sanctions for another six months. And the IOCs could have more to cheer about if Iranian President Hassan Rohani, who is eager to have them back investing in the oil and gas sector, secures a second four-year term in Friday's elections. But there is every chance Rohani will fail to secure more than 50 of the votes, forcing a potential run-off in two weeks' time with his hardline challenger, Ebrahim Raisi.
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