Pars Oil & Gas Company announces offering oil bonds starting soon

Friday, Nov 30, 2012

Iranian minister of petroleum has said offering forward oil bonds will start in near future.

Speaking to Shana, Rostam Qasesme expressed hope the bonds to be faced with widespread welcome due to its good terms adding National Iranian Oil Company (NIOC) has guaranteed principle and profit of the bonds.

Selling forward oil bonds is considered as an effective instrument to deploy small and big capitals of individuals and legal entities in oil industry projects.

Managing director of the National Iranian Oil Company (NIOC) said late last month that the company planned to offer forward oil bonds this year.

Ahmad Qalebani said forward oil bonds or oil Sukuk are among the instruments of financing oil projects adding by using these instruments, people can invest their money in oil production with good profit.

He said applying various financial instruments leads to absorption of liquidity adding if liquidity to be allocated to economically justified projects in a proper manner; it would lead to better allocation of financial resources in a macro scale and will play an important role in boosting economic productivity and development of the country.

NIOC’s managing director announced the company would offer the bonds both in rial and in dollar. The bonds could be transferred to a third person anytime before maturity date.

Source: Pars Oil & Gas Company

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