Iran says only European companies with 2 to 5 year contracts can but Iranian crude. A top Iranian oil industry official has said some European states have started negotiations with Tehran in order to purchase Iran’s crude oil. “Only European companies with a 2- to 5-year contract with Iran can purchase the country’s crude, otherwise [Tehran’s] relations with those companies will be reconsidered,”... 

Shah Deniz gas field BP Plc, UK, and EU have reportedly convinced US lawmakers to exempt a BP-led project from the newly- proposed Washington sanctions on Iran. This is a clear indication that the West is pushing for stricter embargoes on Tehran without harming its own economy. US senators have discussed provisions that could bar companies like BP from working with the National Iranian Oil Company...