Austrian energy company OMV said Wednesday it made the first steps toward resuming operations in Iran after signing an agreement with a national oil entity. OMV signed a memorandum of understanding in Tehran with the National Iranian Oil Co. to asses the field potential at several developments in western Iran. The arrangement also includes consideration for crude oil and petroleum product trades. “This memorandum of understanding is an important first step in resuming OMV’s activities in Iran and in the long-term cooperation with the National Iranian Oil Co.,” OMV CEO Rainer Seele said in a statement. The Austrian energy company emerged in Iran in 2001 as the operator of the Mehr exploration basin in the west […]