There is no barrier for the presence of foreign companies in the Iranian oil industry, says the head of National Iranian Oil Company (NIOC).

“The Islamic Republic has always welcomed the investment by all foreign companies in Iranian oil, gas and petrochemical projects, including US firms,” Seyfollah Jashnsaaz said Tuesday.

He said there would be no legal obstacle if US firms want to negotiate over their investment in the Iranian oil industry, adding that their return would benefit all parties.

Click here to read the full article in Press TV.