NDF to invest $35b in oil industry within 5 years

TEHRAN – The head of Iran’s National Development Fund (NDF) said the fund is going to invest $35 billion in the oil industry within the next five years, IRNA reported on Monday.

“The fund has a serious plan to inject liquidity in the oil industry, according to which, in order to realize the plan to increase the country’s oil production by one million barrels per day, a total of 35 billion dollars will be invested in five years, and nearly 22 billion dollars of the mentioned figure will be allocated in the next two years,” Mehdi Ghazanfari said.

The official noted that the National…