Iran Says Oil, Petrochemicals Investment Hit $10B in Five Months

Oil and petrochemical investment in Iran has reached US$10 billion since the beginning of the Iranian calendar year in March, the Islamic Republic News Agency (IRNA) reported on Tuesday, citing the country’s oil ministry.

By the end of the year, Iran’s government plans to officially launch 17 petrochemical projects, which are expected to produce 100 million tons annually and bring US$25 billion per year, IRNA reports.