Economy, Business And Markets

Bond Issuance to Fund Energy Projects

Bond Issuance to Fund Energy ProjectsBond Issuance to Fund Energy Projects

The Iranian cabinet has approved a plan to issue new bonds to attract funds for oil and gas projects, IRNA reported. Oil and gas projects that are shared with neighboring countries will be given priority for the funds collected from the bond offering. However, there is no information on the selling date of the bonds, reported. Western sanctions against Iran have hampered the country’s access to foreign investments required to develop its oil sector. The government of President Hassan Rouhani is seeking to expand former president Mahmoud Ahmadinejad’s initiative of targeting projects in the South Pars energy hub that Iran jointly shares with Qatar, and include oilfields that Iran shares with Iraq.