Two Iranian Oil Companies to Merge
Monday, July 14, 2003
The government is eager to expand its oil and gas exploration capabilities, and has appointed Rahim Nejad-Hosseinian to head the merged company, the report said. Iran has said it wants to increase crude output from 4 million barrels a day to 5 million barrels per day by 2005, but it needs foreign cash and technical expertise to finance the expansion.
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