Reuters: Iran Postpones London Oil Conference to Feb 2016

Iran has postponed a crucial conference to present new oil contracts to investors in London to February 2016 from December 2015 as industry sources said Tehran was still waiting for Western sanctions to be lifted.

The global oil industry has been eagerly watching Tehran's plans for the conference as Iran, OPEC's third largest oil producer, holds the world's fourth largest oil reserves and the largest for natural gas.

Under a deal reached with six major powers in July, Iran agreed to curb its nuclear programme in exchange for an end to economic sanctions imposed on the country over its disputed nuclear work.

The sanctions imposed on Iran in 2012 have choked Tehran's oil production. Output is down a million barrels per day (bpd) since the start of 2012 at 2.7 million bpd, depriving it of billions of dollars in oil revenue. MORE