Middle East Economic Survey

VOL. LIII

No 45

8-Nov-2010

IRAN

New South Pars Bond To Be Issued

The Managing Director of Pars Oil and Gas Company (POGC), Ali Vakili announced on 27 October that the company is planning to issue on 6 November bonds worth IR23,000 trillion ($2.23bn) to fund the South Pars gas field development. The bonds will be offered to the public by Bank Melli Iran and Bank Saderat Iran. Both state banks have been targeted by US and EU sanctions on account of Irans nuclear...