• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 4 hours U.S. Shale Oil Debt: Deep the Denial
  • 19 hours Satellite Moons to Replace Streetlamps?!
  • 1 day EU to Splash Billions on Battery Factories
  • 15 hours The Dirt on Clean Electric Cars
  • 13 hours Owning stocks long-term low risk?
  • 2 hours Why I Think Natural Gas is the Logical Future of Energy
  • 6 hours Can “Renewables” Dent the World’s need for Electricity?
  • 3 days US top CEO's are spending their own money on the midterm elections
  • 3 days A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 2 days The Balkans Are Coming Apart at the Seams Again
  • 2 days 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 1 day The end of "King Coal" in the Wales
  • 2 days Uber IPO Proposals Value Company at $120 Billion
Element 23, A Breakthrough for the Energy Sector

Element 23, A Breakthrough for the Energy Sector

It’s no longer a technological…

Is There Too Much Light Crude On The Market?

Is There Too Much Light Crude On The Market?

Light crude typically sells at…

National Iranian Oil Company to Issue $15 Billion in Bonds

National Iranian Oil Company Managing-Director Ahmad Qalebani said that his company will issue $15 billion oil bonds in 2011.
 
According to Qalebani, during March 2010-March 2011, there was a 90 percent increase in capital investment in the National Iranian Oil Company as compared to investment during the period March 2007 to March 2009, adding that a significant part of these investments came from the sale of oil bonds and the Iranian people purchased bonds worth $7.5 billion.
 
Qalebani noted, "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," Fars News Agency reported.
 
The National Iranian Oil Company, more familiarly known by the acronym NIOC, is a government-owned corporation under the direction of the Ministry of Petroleum of Iran. Founded in 1948, NIOC is an oil and natural gas producer and distributor headquartered in the capital Tehran and is the world's second largest oil company, after Saudi Arabia's state-owned Aramco.

NIOC is currently focusing its efforts on expanding its sales to India and China. NIOC director Mohsen Ghamsari stated that the policy was a result of India and China being driving forces in the global energy market, telling journalists, "So we should allocate a larger portion of our exports to the two countries, while preserving the Asian and European markets."

By. Joao Peixe, Deputy Editor OilPrice.com


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News