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                    Selected News:   

Iran Petrodollars Cut by 30%


TEHRAN Oct 29 (Shana)--Iran’s President Hassan Rouhani has said that the country’s oil revenues have been slashed by 30 percent.

“The international conditions are such that the country’s main source of income, i.e. oil revenues, has been cut by some 30 percent,” Rouhani said.

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Iran South Pars Gas Recovery to Reach 16 bcf/d  


TEHRAN Oct 29 (Shana)--Iran’s recovery of gas from South Pars gas field is expected to reach 16 bcf/d this calendar year to March 2015, managing-director of Pars Oil and Gas Company said.

Ali-Akbar Shabanpour said South Pars is currently supplying 11bcf/d of gas, against 23 bcf/d extracted by neighboring Qatar which shares the offshore giant field with Iran.

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Consortium envisaged to finance Bid-Boland II Gas Refinery project


Tehran, Oct 29, IRNA – A consortium, comprising six Iranian banks, including Melli Bank, Sepah Bank, Tejarat Bank, Mellat Bank, Parsian Bank, and Bank of Industries and Mines, will finance and accelerate implementation of the Bid-Boland II Gas Refinery project.

The Persian Gulf Petrochemical Industry Co. PGPIC said that the financial agreement was inked at the PGPIC office this week, costing about three billion dollars.

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