Iran to issue $500 million in oil bonds
The Iranian Offshore Oil Company (IOC) will issue $500 million
worth of bonds to finance oil projects in the current Iranian
calendar year, which ends on March 20, 2013, ISNA news agency
quoted IOOC Managing Director Mahmoud Zirakchianzadeh as
saying.
IOOC also plans to issue 7.5 trillion rials (about $610 million) by
December 5, he added.
In July, an official at the Iranian Oil Ministry said the Central
Bank of Iran has opened a $10 billion line of credit for a number
of domestic oil projects in the upstream sector.
Oil Minister Rostam Qasemi said in April that at least $30 billion
will be invested in the domestic oil industry this year. He added
that a major portion of the amount will be allocated to the South
Pars gas field projects.
The South Pars gas field is shared by Iran and Qatar. The Iranian
share, which is divided into 29 phases, has about 14 trillion cubic
meters of gas, or about eight percent of the total world
reserves.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!