May 2016, Vol. 243, No. 5

Features

Election Results Could Be Good News for Oil Majors

Iran’s Feb. 26 parliamentary and Assembly of Experts elections saw strong gains for pragmatic forces, heralding a new openness in Iran and a much better window of opportunity for foreign businesses and the development of the country’s further oil and gas potential. While no one won a solid majority in Parliament, and the conservatives led with around 36% of seats, the pragmatists/reformists centered around Iranian President Hassan Rouhani made a strong showing with 32%,, shoring up their power. In the Assembly of Experts – the religious body of 88 clerics who elect Iran’s supreme leader – -the pragmatists won a slight majority with 52 seats compared to the conservatives’ 36 seat

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