Iran eyes investing $145 billion in oil industry

Agshin Rafigoglu
Author

Speaking in a meeting with Zhong Guidong, President of Sinopec Iran Branch, Iranian Minister of Petroleum Javad Owji announced plans to attract $145 billion in the oil industry.

"We plan to invest $145 billion in the development of the upstream and downstream oil industry over the next four to eight years, hence I welcome the presence of domestic and foreign investors in the industry," he said.

Other News

Azeri Light oil price falls to $116 per barrel 17 October, 2026 / 12:23
Uzbekistan plans to build two more nuclear power plants 16 October, 2026 / 21:45
Shavkat Mirziyoyev discusses energy projects with SOCAR and BP 16 October, 2026 / 21:13
Mirziyoyev: SOCAR, BP conducting exploration work on six blocks in Ustyurt 16 October, 2026 / 15:37
Azerbaijan reveals oil and gas production volumes for nine months 16 October, 2026 / 13:47
Azerbaijan transports 29.7 bcm of gas through main pipelines in January-September 16 October, 2026 / 13:27
Value of Azerbaijan's petroleum products output exceeds 4.6B manats 16 October, 2026 / 13:02
Azerbaijan's crude oil supplies to Vietnam exceed 1M tonnes 16 October, 2026 / 12:44
Azeri Light crude falls over $5 per barrel 16 October, 2026 / 10:29
SLB, BP ink deal for seismic data processing at Karabakh field in Caspian Sea 16 October, 2026 / 10:02
Brent crude falls to $105.3 per barrel 16 October, 2026 / 09:52
Azerbaijan's oil production approached 20M tons in 9 months 15 October, 2026 / 12:46
Kazakhstan, Azerbaijan plan to boost Kazakh oil transit via BTC, Tokayev says 15 October, 2026 / 12:46
Azerbaijan and Sri Lanka discuss energy cooperation 15 October, 2026 / 12:01
Azerbaijan's natural gas output reached almost 38 bcm in nine months 15 October, 2026 / 10:55
Azeri Light crude drops to $124.14 per barrel 15 October, 2026 / 10:14
Azerbaijan's Energy Ministry has appointed 115 energy managers nationwide to date 14 October, 2026 / 16:14
Uzbekistan adopts Azerbaijan's experience in energy sector 14 October, 2026 / 14:18
IEA: Azerbaijan fell 110,000 b/d short of OPEC+ quota in September 14 October, 2026 / 13:51
Minister: Azerbaijan carries out reforms to foster competition in energy sector 14 October, 2026 / 11:38