Iran reportedly reached a settlement with Chevron.

According to the Middle East Digest, Iran will pay the San Francisco-based oil company $115 million in an out-of-court settlement of claims arising from the 1979 Iranian revolution. The weekly magazine said the deal was hammered out in protracted talks and was awaiting endorsement by the U.S.-Iran Tribunal in The Hague. The digest also said the agreement was likely to pave the way for the settlement of several billion dollars’ worth of claims by other U.S. oil companies whose assets were nationalized without compensation by Tehran’s Islamic rulers.