Pulling in different directions

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Despite long discussions within the Organisation of Petroleum Exporting Countries (Opec) and academic circles, private industry has always been sceptical about ever achieving harmonised investment rules. How can Opec member states contemplate a common investment framework when political factions within each country – notably Kuwait, Saudi Arabia and Iran – cannot reach a consensus on foreign investment per se? Even sympathetic observers have their doubts.

“I don’t think it will work,”