Iran to Issue Oil Bonds

Two batches of rial denominated bonds, each worth 5,000 billion rials (almost 400 million dollars), will be issued in next two months, an Iranian deputy oil minister announced.

Iranian Deputy Oil Minister Ahmad Qalebani, who also heads the National Iranian Oil Company, said that the National Iranian Offshore Oil Company (NIOOC) and Pars Oil and Gas Company (POGC) each will issue 5,000 billion rial-denominated oil bonds.

Referring to oil pre-sale bonds as a profitable investment, the official said the hurdles for issuance of such bonds had been removed and Iran’s Stock Exchange has said all necessary preparations have been taken for the issuance of the bonds.

Elsewhere in his remarks, Qalebani said under NIOC’s planning not only the status of all shared oil and gas fields, but the development status of the remaining oil and gas fields will be determined up to the end of current Iranian calendar year on 20 March 2013.

Up to the end of current Iranian calendar year all shared oil and gas fields will start production or will be engaged in a kind of development program that finally would lead to rising oil and gas production capacity by one million barrels and 400 million cubic meters per day respectively’, NIOC managing director said.

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