Iranian government increases capital of National Iranian Oil Company
BAKU, Azerbaijan, August 26
By Elnur Baghishov – Trend:
The Iranian government, led by President Hassan Rouhani, has agreed to a proposal to increase the capital of the National Iranian Oil Company (NIOC), Trend reports citing NIOC’s website.
The decision was made at a meeting of the Iranian Cabinet of Ministers in Tehran today.
According to the decision, the capital of the National Iranian Oil Company has been increased to 1.3 quadrillion rials (about $31 billion).
"The capital was divided into 130 million shares, and the value of each share was 10 million rials (about $238),” the decision said.
The Iranian government has also decided to allocate funds for the implementation of infrastructure plans in Bushehr Province, the decision added.
According to the decision, 130 billion rials (about $3.09 million) has been allocated for the construction of an emergency exit road in Bushehr city.