IRAN 

Iran’s 2012 Budget Allocates $5Bn To Refinery Completion

The Iranian Ministry of Petroleum’s Shana website announced on 5 March that the budget for the Iranian year 2012-13 authorizes the National Iranian Oil Refining and Distribution Company (NIORDC) to use up to $5bn from the assets of the National Development Fund, which is dedicated to the execution of the 2011-15 five-year development plan. The NIORDC investment is intended to speed the construction of the...