TEHRAN Mar 16 (Shana): Bank Mellat and other Iranian banks are ready to issue 3 trillion rial-denominated energy bonds.Ali Qasemi Armaki, managing director of investment department of Bank Mellat, made the remarks adding the bank has issued 50 trillion rial-denominated energy bonds over the past three years of which 40 trillion rials have been allocated to development of South Pars gas field projects.
Earlier NIOCs deputy for investment and financial resources, Ali Kardar, had told Shana that as much as 2 billion dollars of Energy Funds foreign exchange reserves has been spent in South Pars gas field over the past two years.
Energy Fund was established 3 years ago with the goal of boosting investment in oil industry.
On issuance of oil bonds, Kardar told Shana that once the Central Bank of Iran (CBI) manages to fix the foreign exchange rate, then Petroleum Ministry will decide on issuance of 50 trillion of rail-denominated bonds.
He further noted that Pars Oil and Gas Company will be responsible for issuance of 20 trillion of rail-denominated bonds while the remainder will be issued by Irans Offshore Oil Company (IOOC), National Iranian South Oil Company (NISOC), Irans Central Oil Fields Company (ICOFC) and Petroleum Engineering and Development Company (PEDEC).
Earlier Irans Minister of Petroleum, Bijan Namdar Zangeneh, told Shana that the ministry was in talks with CBI to fix the exact date for issuance of bonds.
By SHANA
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