This segment is from Thursday's edition of 'Digging for Value', in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
It didn't take long for Iran to kick-start its attempts at luring foreign oil majors into the country should international sanctions be lifted. Iran's oil exporting business has suffered mightily since 2012 because of these sanctions, but discussions surrounding its nuclear program have begun to make a bit of progress.
Unfortunately, these sanctions aren't the only thing holding back companies like BP plc (NYSE:BP) and Italy's Eni (NYSE:E) from helping Iran realize its full potential. For this reason, the President of Iran hosted these companies in a closed door meeting at the World Economic Forum in Davos, Switzerland. Only time will tell if things open up, but Iran is clearly prepared to make consolations. Tune in to the short video below for more.
Greater oil production capacity is never something OPEC wants to hear about