$6 billion oil guarantee fund launched

According to Energy Press, during the event “Transformation in Upstream Oil and Gas Investment”, Oil Minister Mohsen Paknejad announced the launch of the Oil Guarantee Fund; a fund designed with an initial capital of 300 million euros and, according to him, capable of issuing guarantees up to 6 billion dollars.
The fund was established with the aim of supporting investors in upstream projects, with the participation of the National Iranian Oil Company, banks, the energy exchange and E&P companies.
Oil Minister Mohsen Paknejad also unveiled a new tool called “PetroCredit”, which for the first time allows attracting small public investments through the capital market.
He also considered the transfer of flare gases to investors at a zero base rate as one of the other important measures in the event.