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Iran negotiating oil contracts

If the sanctions against Iran are lifted the country will be able to offer western oil and gas companies the opportunity to negotiate long-term, more profitable proposals and contracts, public officials tell the Wall Street Journal.

Photo: Vahid Salemi/AP/POLFOTO

For a long time there has been a spotlight on Iran's oil and gas reserves, which are the fourth largest and the largest in the world, respectively. Negotiators from Iran and six major global powers will negotiate a deal set to lift the international sanctions against Iran in return for control over Iran's nuclear program, reports the Wall Street Journal.

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