NIOC to issue oil bonds to finance Iran’s upstream projects
CEO of Iran’s state oil company the NIOC says the government will soon begin to sell oil bonds to secure the investment needed in large-scale oil and gas projects in the country.
Mohsen Khojasteh Mehr said on Wednesday that oil bonds planned to be unveiled by the National Iranian Oil Company in the near future will be denominated in foreign currencies and will be eligible for direct exchange with crude oil shipments.
“The NIOC can even store crude oil at aboveground tanks for delivery to the bond holders as soon as a tradable shipment is ready,” Khojasteh Mehr told reporters, adding that the bonds will have no maturity date.
He described the oil bond issuance plan as a “national scheme” that will enable the NIOC to secure the cash flow needed in its upstream projects.
The official, who also serves as a deputy oil minister, said Iran’s High Council on Money and Credit has authorized the oil bond issuance scheme by the NIOC.
D-8’s role in Iran’s economy after Cairo summit
Iran’s mining, metals exports at $8.8bn in Apr-Nov
Iran’s cenbank says inflation down to lowest in 4 years
Iran reports further drop in annual inflation rate in December
Israel indicts two settlers over suspected spying for Hezbollah
Iran: US airstrikes on Yemen war crimes, violation of international law
Yemeni armed forces down F-18 fighter jet, repel US-UK attack: Spokesman
Iran warns against US-Israeli plot to weaken Muslims, dominate region
VIDEO | Public uproar in US against Israeli regime
‘Ghost town’: 70% of Jabalia buildings destroyed by Israel
Mother’s Day: Sareh Javanmardi’s inspiring journey as Paralympic champion and mother
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
