The Iran Project

Iran to pay energy projects investors in crude: Minister

Iranian Oil Minister Javad Owji says the country would seek to attract investment into major petroleum projects through a barter system involving crude.

Owji said on Sunday that paying investors in oil and condensate, which is a very light from of oil, would mostly cover unfinished energy projects in the Iranian oil and gas sector.

“There are many construction projects in the country which have been left unfinished for several years and we would try to secure funds for the projects through bartering oil and condensates,” said the minister while speaking to reporters in the Iranian parliament.

He said Iran would welcome any initiative involving swap of crude for investment in both the upstream and downstream sections of the petroleum industry in the country.

The remarks come a day after Iranian government authorities said they would allow using crude for settling payments related to imports of goods, machinery and staples.


Source: Press TV

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