India Loses $3 Billion Farzad-B Gas Field Deal With Iran

India has lost its $3-billion bet on Iran regarding the giant Farzad-B gas field in Farsi block. The Indian state run oil companies discovered this asset back in 2008 and since then the negotiations were being carried out by top leadership of both the countries.

The National Iranian oil Company cracked the deal in $1.7 billion after Tehran had rejected India's $2-billion offer. The Farzad-B is the second Indian proposal that was rejected even after the involvement of top leadership of bo...

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