Iran Oil Company to issue bonds worth 15bn dollars

Sunday, Jul 17,2011, 3:28:49 PM

Managing-Director of the National Iranian Oil Company Ahmad Qalebani has said that oil bonds worth 15bn dollars will be issued this year, Fars reported.

Qalebani said that during 1389 (21 March 2010-20 March 2011), there was a 90 per cent increase in capital investment in the National Oil Company as compared to the average investment during 1386 to 1388 (21 March 2007 to 21 March 2009).

The managing-director added that a significant part of these investments came from the sale of oil bonds and the Iranian people purchased bonds worth 7.5bn dollars.

In the current year 1390 (21 March 2011-20 March 2012), the Oil Company plans to issue bonds worth 15bn dollars, he added.

He highlighted: "Being less dependent on the government budget for the development of the National Iranian Oil Company is a big task, which is being taken care of gradually."

Source: Fars News Agency website, Tehran, in Persian 0421gmt 17 Jul 11

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