Middle East Economic Survey

VOL. LIII

No 9

01-March-2010

IRAN

NIOCs Annual Investment Requirement Estimated At $24-30Bn

National Iranian Oil Company (NIOC) Managing Director Seifollah Jashnsaz told reporters in Tehran on 21 February that the company would need to invest $24-30bn each year to achieve its 2010-30 development plan. He said NIOC reinvests 13% of its yearly income in the petroleum industry while another 17% is reserved for tax payment, but less than 50% of the necessary...