News ID: 216588
Published: 0239 GMT June 12, 2018

Iran to issue bonds for oil sector investment

Iran to issue bonds for oil sector investment

Iran will issue bonds in the coming months to fund oil industry projects, said the head of Securities and Exchange Organization (SEO) on Tuesday, a month after the United States withdrew from a nuclear deal and said it would re-impose unilateral sanctions.

According to IRNA, Shapour Mohammadi further said that the Securities and Exchange Organization (SEO) and the Oil Ministry have been negotiating for one and a half years on issuing bonds for oil projects and hopefully this will be implemented within a few months.

"This will help all Iranians to invest in oil projects," he added.

In May, French oil major Total said it might pull out of its investment in Iran's South Pars Gas Field if it cannot secure a waiver from the US government.

Iran's Oil Minister Bijan Namdar Zanganeh said last month that foreign investment was needed to develop the oil industry, but that it could survive if foreigners decided to stay away.

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