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Iran's Oil infrastructure loses $8 bln in budget redirection

Iran Materials 13 December 2011 12:19 (UTC +04:00)

Azerbaijan, Baku, Dec. 13/ Trend M. Moezzi/

The Iranian government's failure to comply with its 2009/2010 budget has cost the country's oil infrastructure $8 billion (80 trillion rials) in allocated funds, Fars News reported a member of Iran's parliament as saying.

A report by the Iranian parliament's Planning and Budget Commission has found that most of the government's deviations from Iran's 2009/2010 budget were in the construction sector, said Jabar Koochaki Nejad .

According to the National Development Plan (2005-2025), Iran should have attracted $500 billion in investments to the oil sector and for this year this figure will be only $48 billion. Iran's producing 3.6 MLPD

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