Iranian oil ministry wants greater share of oil revenues
Iranian Oil Ministry has put in a request for receiving a greater share of oil revenues as the oil industry faces shortage of funds, Trend news agency reported, referring to Fars agency.
For the development of oil and gas fields, 25 percent of revenues are requested to be allocated to the Oil Ministry.
The current year's budget bill has envisaged allocating 14.5 percent of oil revenues to the Oil Ministry.
For gas fields, 75 percent of incomes earned through selling gas condensates are requested to be deposited into the Oil Ministry's account.
Iran's oil revenues during Iranian calendar year 1390, which
ended on March 19, 2012, amounted to $118 billion, according to
official statistics.
The Islamic Republic's oil revenues during the first quarter of the
current Iranian calendar year (March 20-June 20) amounted to $19.8
billion, Fars news agency reported, citing official statistics.
Exports of natural gas and oil products stood at $1.1 billion
during the 3-month period, showing a 101 percent rise compared to
the figure for the corresponding period in the previous year.
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