Tehran needs $200 billion to upgrade oil infrastructure

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https://www.rt.com/business/331871-iran-calls-oil-investments/

Iran’s energy ministry says the country needs $200 billion in foreign investment to develop its oil industry. The country lacks domestic financing to expand the sector, according to Energy Minister Bijan Zanganeh.

“We will receive $15-20 billion from the National Development Fund, but internal resources are not enough for our needs,” the minister said. He added that Iran needs $200 billion “to reach its development goals.”

Zanganeh says a cash infusion of $130 billion is needed for exploration and extraction projects and $70 billion for crude processing and marketing.

Last November, Iran introduced a new form of oil contract, offering more flexible terms on price fluctuations and investment risks to encourage foreign investors.

The Iran Petroleum contract (IPC) allows foreign companies to book reserves and purchase equity stakes in Iranian companies, replacing an old buyback system.

With the sanctions being lifted, Tehran intends to boost exports by 500,000 barrels per day (bpd), 300,000 bpd are set to be consumed by the European market and the rest destined for Asia. The country plans to increase oil production to 4.7 million bpd by 2021.

Iran has one of the world’s biggest recoverable crude reserves after Venezuela, Saudi Arabia and Canada.

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this is like taking candy from a baby..the worlds banks and hedge funds will flock to this bonanza..

we have called this for a long time..the cancelling of sanctions allows them all in “legally” now..

“Zanganeh says a cash infusion of $130 billion is needed for exploration and extraction projects and $70 billion for crude processing and marketing.”

401

~ by seeker401 on February 12, 2016.

4 Responses to “Tehran needs $200 billion to upgrade oil infrastructure”

  1. There won’t be a need for this crap soon, as the people will all be dead from working their butts off to pay for this global new world infrastructure, no jobs, losing their homes, inflationary prices of food, no healthcare in the U.S. if you can’t afford the extremely high costs of the Obamascare garbage. This Dream is over or maybe they’re ‘going back to the future’ in our nation.

    The NWO seems to be going in all or nothing this time……I hope it blows up in their faces and they are the big losers. Highly unlikely, but we can all dream a little bit………..

  2. Obama Admin Advising Global Banks on Ways to Give Iran Money

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