Iran boosts oil output, foreign firms eager for deals

Iranian President Hassan Rouhani arrives for a news conference in Tehran, Iran January 17, 2016. REUTERS/President.ir/Handout

DUBAI (Reuters) - Iran ordered a sharp increase in oil output on Monday to take immediate advantage of the lifting of international sanctions, and some foreign firms raced to snap up deals as Tehran emerges from years of international isolation.

Others were more wary, mindful of the risk of falling foul of an array of U.S. penalties that remain in place despite the lifting of nuclear-related sanctions on Saturday by the United States, European Union and United Nations.