By: MICHEAL KAUFMAN: Published: Apr 1, 2015 at 8:34 am EST
Recently, Iran has been exposed to numerous sanctions by the West over concerns that the country was developing a nuclear project. However, talks between the US and Iran have started over a new nuclear deal. If the deal is successful, then sanctions are expected to ease off and Western energy companies are expected to return to the country.
According to Bloomberg, the discovery of oil in 1908 in the country laid the foundations for the development of the British oil major, BP plc (ADR) (NYSE:BP). An oil consultant in Iran, Nader Sultan said: “You look at the history of the oil companies, and that history is Iran.”