Iran's oil ministry plans to issue $15 billon bonds

Oil&Gas Materials 16 July 2011 12:04 (UTC +04:00)

Azerbaijan, Baku, July 16 /Trend/

The National Iranian Oil Company expects to increase investments attraction by issue of bonds worth $15 billion, Fars News Agency reported quoting Managing Director of National Iranian Oil Company Ahmad Ghalebani as saying.

"The volume of investments attracted by the National Iranian Oil Company reached $17.6 billion in the last Iranian calendar year (ended on March 20, 2011) and comparing to past three years it had 90 percent growth," he said.

The National Iran Oil Company attracted $9.4 billion investment in the last year while $7.5 billion of its attracted financial sources were provided by bonds.

The plan to issue $15 billion bonds in the current year is to reduce dependency on the government budget.