National Iranian Oil Company
TEHRAN Mar 10 (Shana): As much as 2 billion dollars of Energy Fund’s foreign exchange reserves were spent in South Pars gas field over the past two years.
Speaking to Shana, NIOC’s deputy for investment and financial resources, Ali Kardar, said, "Totally five billion dollars of Energy Fund’s reserves are allocated to development of South Pars gas field’s phases of which 2 billion were spent over the past two years and the remainder is slated to be spent in near future."
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PRESS TV: Sources say South Korea will make a first payment to Iran for oil imports following the partial easing of sanctions on Tehran in line with an interim nuclear agreement clinched between Iran and the six major world powers.
Seoul will transfer $550 million to Tehran on Friday, the sources with direct knowledge of South Koreas payment told Reuters by phone on Thursday.
IRAN DAILY: Iran should increase refining capacity by 1 million barrels per day in the next five years to be able to stop selling crude oil, said the oil minister.
Bijan Namdar Zanganeh added that during 1991-2001, huge investments were made in Iran’s oil industry, which marked a golden era in the industry’s history, IRNA reported.