Bank Mellat of Iran announces its readiness to make investments in oil sector

Oil&Gas Materials 31 January 2022 09:26 (UTC +04:00)
Bank Mellat of Iran announces its readiness to make investments in oil sector

BAKU, Azerbaijan, Jan. 31

By Elnur Baghishov – Trend:

The Bank Mellat of Iran is ready to invest in projects in the country’s oil sector, the CEO of the Reza Dovlatabadi said, Trend reports citing National Iranian Oil Company’s website.

Dovlatabadi said that oil sector is one of the most efficient sectors in the Iran’s economy. Taking into account the country's potential in this sector, the Bank Mellat intends to cooperate in all areas related to oil sector.

The CEO also added that over the past years, dozens of projects in the oil sector have been implemented with the financial support of the Bank Mellat. As well as the financing of several Iranian oil refining companies is provided by the Bank Mellat. The bank's financial transactions with the oil sector are about $18 billion worth.

“The construction of a pipeline from Rafsanjan city to Mashhad city has recently begun with an investment of 300 million euro by the Bank Mellat Iran,” he said.

On Jan. 15, 2022, the National Iranian Oil Refining and Distribution Company (NIORDC) and the Bank Mellat Iran signed a contract for the construction of a pipeline on the transportation of oil products from the southeast to the north-east of Iran.

According to the contract, the pipeline will allow transport of oil products from Rafsanjan city in the Kerman Province (south-eastern Iran) to Mashhad city in the Razavi Khorasan (northeastern Iran).

The transportation capacity of the pipeline will be 150,000 barrels per day, while the length of the pipeline will be 948 kilometers.

According to preliminary estimates, a total of 372 million euros will be spent on the construction of the pipeline and related work.


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