Iran eyes investing $145 billion in oil industry

Speaking in a meeting with Zhong Guidong, President of Sinopec Iran Branch, Iranian Minister of Petroleum Javad Owji announced plans to attract $145 billion in the oil industry.

"We plan to invest $145 billion in the development of the upstream and downstream oil industry over the next four to eight years, hence I welcome the presence of domestic and foreign investors in the industry," he said.