"If you decide to classify different sectors in view of investment, there is no doubt that oil and gas industry will be the most profitable and most attractive one," Head of the National Iranian Oil Company (NIOC) Ahmad Qalebani said on the sidelines of a meeting with the members of the Parliament's Energy Commission.
"Given the restrictions imposed on foreign investment in Iran, the best way to promote investment is funneling the society's liquidity into investment in the oil and gas projects by issuing oil bonds at proper interest rates," he continued.
"Increasing oil bonds' interest rate by one to two percent will persuade investment in oil and gas projects, and its benefits will spill over to the society and the people in addition to the investors to other peoples," Qalebani added.
"We should turn underground and God-gifted resources of the country into a sustainable wealth so that it brings comfort to the honorable people of Iran," he reiterated.
Qalebani praised the parliament's support for the Iranian oil industry, and said his company is due to present a report to the Energy Commission on the performance of the company during the fourth five-year development plan, NIOC's targets during the fifth five-year development plan and also the projects underway in the oil industry.
irna/281
A senior Iranian energy official said Iran has such a profitable oil industry for investment that offering bonds with interest rates even above 25 percent would still be justifiable.
News ID 182334
