Iran plans to start oil barter deals in exchange for investment and goods

11 October, 2021

Iran’s Oil Minister Javad Owji referred to the world's need for fossil energy and stated: “We are ready to offer oil and gas condensate to “any investor” in exchange for either goods or capital investment,” reported the News Agency of Oil Ministry.

Speaking on Sunday on the sidelines of the meeting of the Industries and Mines Committee of Iran’s Parliament Owji stated that good news will soon be announced on the diversity of oil contracts and gas condensate and oil barter deals.

The Oil Minister said: "Domestic investors such as holdings and large economic enterprises can enter to develop the country's gas fields and after the development of the field, receive natural gas and gas condensate as feed or fuel in return for investment costs and profits. Now, the Deputy Minister of Planning is ready to accept investors in the development of fields and sign a contract with them.”

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