PJSC LUKOIL (LUKOY)

[Timothy Smith]

Lukoil (OTCPK:LUKOY, OTC:LUKOF) says it expects to sign a deal with Iran for exploration and production following changes in the country’s tax laws.

Lukoil stopped work in Iran in 2010 due to sanctions, which western countries are poised to lift following Iran's agreement with the U.S. and other world powers to curb its nuclear program.

Separately, Lukoil officials say they do not expect Russia's air strikes on Syria to affect relations with OPEC.