Iran’s new model oil contracts, designed to lure billions of dollars in foreign investment for its energy industry, still need revisions and the government is confident the first deals will be signed within months, Oil Minister Bijan Namdar Zanganeh said. Regulators in Iran and the country’s oil ministry reached a “partial consensus” on language in the contracts that were sent to the government’s cabinet for approval two weeks ago, Zanganeh said in an interview published Saturday by the semi-official Khabar Online news site. Zanganeh dismissed suggestions the contracts had been delayed, saying “signing oil contracts takes time. It needs negotiation.” He said he expected the first contract with a foreign company to be signed “in the next two or three months or maybe sooner.” With economic sanctions lifted in January after Iran pledged to use its nuclear program for peaceful purposes, the government is hoping to draw as much […]