Iran is negotiating with 16 international energy companies to help operate and manage 50 oil and natural gas projects around the country. The projects are feasible even with oil at USD40 per barrel, according to Gholam-Reza Manouchehri, a deputy director of the National Iran Oil Company. It is still uncertain when Iran will sign the contracts but Mr. Manouchehri hopes that it will be within a year. Emirates NBD said last week that benefits of lifting of sanctions on Iran have so far been quite limited. The big obstacle is USD clearing, as US corresponding banks are not yet willing to take part in any deals involving Iranian businesses. (Bloomberg, Company disclosure)   Emirates NBD: AED8.00 as of 19 Oct 2016, Rating: Buy, FV: AED9.80 per share, MCap: USD12,115 million, EMIRATES UH / ENBD.DU