Gulf Oil and Gas accountACCOUNT

NIOC Seeking Novel Financing Methods to Fund Petroleum Projects

Source: www.gulfoilandgas.com 10/24/2019, Location: Asia

The National Iranian Oil Company (NIOC) CEO said his company was considering the use of a variety of securities and new methods of financing to attract public capitals to accelerate implementation of oil and gas projects.

According to NIOC, Masoud Karbasian stated: "The National Iranian Oil Company, as the largest economic enterprise in the country, has always tried to design and develop new methods for raising capital, such as reforming contracts and attracting public partnership by issuing securities and tapping capital attraction capacities in order to make up for the absence of foreign investors and financiers, and provide the necessary funds for the implementation of oil and gas projects."

He said the potentialities and capabilities of the private sector needed to be tapped in order to exploit the small and large-scale public and private sector resources in upstream oil industry.

The NIOC CEO said that oil resources belonged to the Iranian nation so public participation could be used in order to bring the sub-surface riches to the ground to be enjoyed by all the people.

Karbasian further said that NIOC was in talks with operating banks regarding issuance of various forms of securities in order to attract capital for oil and gas projects. He also voiced NIOC"s readiness to provide the required guarantees in this regard.

He added that in the past few months about $8 billion had been financed through capital market for oil projects, adding: "The stock market has come to our aid with the possibility of offering exchangeable securities and we can use various kinds of bonds, project funds, fixed-rate bonds, and Salaf bonds for financing."

According to the official, issuance of partnership bonds would be considered commensurate with the physical progress of the projects.

Financials and Investment News in Iran >>

Botswana >>  10/27/2020 - Tlou Energy Limited is an ASX, AIM and BSE listed company focused on delivering power in Botswana and southern Africa through the exploration and deve...
Argentina >>  10/26/2020 - President, the oil and gas upstream company with a diverse portfolio of production and exploration assets focused primarily in Latin America, announce...

Netherlands/Holland >>  10/26/2020 - On 12 February 2020, Vopak announced a share buyback program to return EUR 100 million to shareholders.

The purpose of the share buyb...

Nigeria >>  10/26/2020 - Africa Oil Corp. is pleased to announce that it has received its fifth dividend from Prime Oil and Gas B.V. (“Prime”), a company that holds interests ...

United States >>  10/26/2020 - National Oilwell Varco, Inc. reported third quarter 2020 revenues of $1.38 billion, a decrease of seven percent compared to the second quarter of 2020...
Saudi Arabia >>  10/25/2020 - SABIC reported its earnings for the third quarter of 2020. The company’s revenue for the third quarter reached SAR 29.30 billion ($ 7.81 billion), rep...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.