A spokesman for the Energy Commission of Iran's Majlis, Emad Hosseini, says domestic banks will invest about 10 billion euros in the country's oil sector, Press TV reports on Monday.
Hosseini referred to domestic finance, the country's Foreign Currency Reserve Account and energy funds as various investment sources for the implementation of oil projects and said ”Domestic banks will invest 10 billion euros in the oil sector within the framework of investment funds,” Press TV cites the Shana news agency.
The official pointed to the magnitude of Iran's oil projects and called for a more active role of the private sector in the implementation of these projects.
Hosseini underlined the need for the diversification of investment methods in the oil sector in order to help accelerate the execution of projects and emphasized that oil contracts should draw the attention of domestic companies and contractors.
