Last week Iran had to postpone offering some 20 oil and gas projects for international tender because potential bidders were nervously wondering what the Americans would say.

ECONOMIST: Iran

When big projects are planned - the buyer may put it out to tender.

BBC: NEWS | Programmes | Working Lunch | Bidding for gold

Many projects, he claims, have been awarded with no public tender and end up over-budget, late or poorly built.

ECONOMIST: New investors on America��s doorstep