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Source: OilandGasJournal
An Iranian-American oil executive was detained earlier this month byIran’s Revolutionary Guard Corps as competing political factions wrestle forcontrol over the country’s energy development plans.
According to the Wall Street Journal, the head of strategic planning atCrescent Petroleum Siamak Namazi was arrested by the intelligence arm of theRevolutionary Guard Corps while visiting family in Tehran.
A source close to the matter told Reuters that Namazi has been calledin for questioning several times during the past fourth months and is currentlybeing held in solitary confinement.
The source added that Namazi, who lives in Dubai, has been barred fromleaving Iran since July.
A senior Obama administration official told the news wire that the U.S.government is aware of the reports and is investigating the matter.
“We’re looking into these reports and don’t haveanything further to provide at this time,” the source said.
Namazi is among several executives who have reportedly been held by theGuard and warned against interfering in the group’s monopolies, the Journalsaid.
The Guard reports to Supreme Leader Ayatollah Ali Khamenei, not Iranianpresident Hassan Rouhani.
The Rouhaniadministration has been courting foreign energy investment since signing a nucleardeal earlierthis year that promises to roll back EU and U.S. oil sanctions in return forcurbed nuclear development.
The oilrich country ishoping to attract as much as $185 billion in new energy projects by 2020 andalso plans to revise its contract model.
IranianMinister of Industry, Mines and Trade Mohammad RezaNematzadehsaid earlierthis year that Iran hopes to boost exports to Europe and focus on developingits oil and gas, metals and car industries.
However, someIranian officials are reluctant to allow foreign investors into the country’senergy sector.
Westernsanctions have restricted the country’s oil exports to 1 million barrels perday since 2012, down from a high of 2.5 million
The countrycurrently produces about 3.5 million barrels of crude per day, accordingto OPEC.
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