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2015-12-28 20:00:00

IRAN NEEDS $100 BLN

IRAN NEEDS $100 BLN

Iran's gas industry could attract $40 billion if sanctions against the country are lifted, Hamid-Reza Araqi, Managing Director of the National Iranian Gas Company (NIGC) said.

Attracting more than $40 billion in BOO and BOT methods in the gas industry will be possible, the Shana news agency quoted Araqi as saying on December 27th.

"Thanks to its strategic situation in the region and taking many advantages, including easy access to the international markets, holding the largest gas reserves, and having suitable infrastructures, the country can readily increase its international relations," Araqi explained.

"In addition, we can turn natural gas into value-added products or inject it into oil wells in order to boost production and recovery rates," he said.

Iran needs $100 billion to rebuild its gas industry and has met with European energy giants, Azizollah Ramezani, International Affairs director at NIGC said in June.

"We welcome and appreciate investment by companies; we welcome new technology," he added.

Half of the $100 billion that Iran requires will need to come from foreign producers, he noted.

Currently Iran produces about 700 million cubic meters per day of enriched gas and plans to increase raw gas production to 1,100 mcm per day by late 2018.

naturalgaseurope.com

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Tags: IRAN, GAS

Chronicle:

IRAN NEEDS $100 BLN
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

IRAN NEEDS $100 BLN
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

IRAN NEEDS $100 BLN
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

IRAN NEEDS $100 BLN
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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