Energy
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Zanganeh: Investment Key to Promote Domestic Production

The Oil Ministry invested close to $42 billion in oil and gas ventures between 2011 and 2012, yet much more investments are required to keep the wheels of the oil industry running
Iran’s oil industry needs $200 billion in investment for its development projects.Iran’s oil industry needs $200 billion in investment for its development projects.
Iran needs to resort to foreign and domestic private investors to finance petroleum projects

Iran is in dire need of investment to boost domestic production, Oil Minister Bijan Namdar Zanganeh said.
“The most important measure we should take is to facilitate the flow of investment in the oil sector. A country like Iran that requires investment should not put itself in a position in which capital flight happens,” Zanganeh was quoted as saying by ISNA on Monday in the parliament’s special commission for propping up domestic production.
To help make the economy more self-sufficient, Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei has declared “Support for Iranian Products” as the main theme of the new Iranian year that began on March 21. 

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