Tehran almost reject investments in oil production

The Iranian authorities have almost stopped the flow of investments in the oil industry of the country in connection with the collapse of prices for hydrocarbons. The tendency has been observed over the last five years: in 2011-2012 the state invested nearly 40 billion dollars in the industry, then in 2014 the figure was 6 billion dollars, the head of Iran's Ministry of Oil Bijan Namdar Zanganeh stated.

Some time ago, in August, the head of the division of strategic planning of the Ministry of Oil, Said Gavampur, reported that the Iranian oil industry will need 100 billion to 500 billion dollars of investments in the next five years.

Zanganeh also clarified that, according to the country's leadership, the world produces 3 million excess barrels per day, but Iran is going to increase production by 500 thousand per day immediately after the removal of international sanctions, and after that by another 500 thousand barrels per day, Interfax writes.