VOL. XLIV

No. 26

25-June-2001

IRAN

Government Sets Budget Of $4.7Bn For Buybacks

Irans Ministry of Petroleum has been give approval to award buyback contracts with a total combined project cost of $4.7bn during the current Iranian calendar year, which began 21 March, according to a report on 16 June by the official news agency IRNA. This years budget is effectively a rollover of last years but at the most recent dollar-rial official exchange rate, after protracted negotiations with international...