Iranian oil industry needs $200bn capital injection says Minister

The Iranian oil industry needs up to $200bn in investment, the country’s  Petroleum Minister Bijan Zangeneh said yesterday, with most of it having to come from overseas. $130bn was needed modernise the upstream sector, with a further $70bn for the downstream sector, including for the renovation and construction of new refineries.
Late last year, in an attempt to lure back foreign investors, Tehran introduced  a new model for future oil and gas contracts  which provided for more flexible terms to account for price fluctuations and investment risks.  

Source: iran-bn