Oil Ministry owes $17 billion to National Development Fund

According to Energy Press, Farshid Ahmadi, Director of Investment and Financing of the National Development Fund, spoke at the third session of the International Conference on Investment and Financing in the Oil, Gas and Petrochemical Industry on the topic of “Investment and Financing Opportunities in the Petrochemical Industry” held at the Faculty of Law and Political Science of Allameh University, referring to the country’s enormous capacities in the energy sector, and said: “With the world’s second largest oil and gas reserves, Iran has the potential to create lasting and productive wealth, but sanctions and restrictions on access to foreign resources require us to make the most of domestic capacities.” He stated that the National Development Fund has played an important role in financing energy projects so far, adding: “During this period, the Fund has financed nearly 400 projects worth about $40 billion, including 65 projects in the oil, gas and petrochemical sectors worth $3 billion, large projects in the steel industry worth $3.3 billion, power plants and transportation projects.” Ahmadi continued: “Among the petrochemical projects that have used the fund’s resources are the petrochemical plants of Ilam, Sadaf, Siraf, Gachsaran, Zanjan, and Dehloran, which have been able to produce valuable products in the country.”