💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Iran eyes $55 billion petrochemical investment - deputy minister

Published 05/04/2016, 11:52
Updated 05/04/2016, 12:00
© Reuters. Iranian Deputy Oil Minister Shahdaei attends a news conference in Berlin

BERLIN (Reuters) - Iran needs $55 billion (39 billion pounds) of investment in the petrochemicals sector in the next 10 years, Deputy Oil Minister Marzieh Shahdaei said in the German capital on Tuesday.

"Iran needs $55 billion for 60 projects in the petrochemicals sector over a period of 10 years," she said at a conference.

Asked if she would attend a planned oil producers' meeting in Doha on April 17, she said she had no plans to go. She said she did not know whether Oil Minister Bijan Zangeneh would attend.

© Reuters. Iranian Deputy Oil Minister Shahdaei attends a news conference in Berlin

Iran has said it will not join fellow OPEC and non-OPEC members in a plan to be discussed in Doha to freeze oil production to boost prices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.