Iran oil ministry to issue bonds worth $1.6bn in coming days

DUBAI: Iran's oil ministry plans to issue 50,000 billion rials ($1.6 billion) in bonds in coming days for the development of oil and gas fields, the ministry's news agency, SHANA, reported on Saturday.

"Before the end of the current (Iranian) year, we will issue oil bonds worth 50,000 billion rials," SHANA quoted the managing director of the National Iranian Oil Company (NIOC), Rokneddin Javadi, as saying. The Iranian new year starts on March 20.