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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Market

Iran Oil Fund to expand if crude stays above $65

Posted on 12 March 2010

From Businessweek.com: Iran, holder of the world’s second- biggest oil and gas reserves, will add to its oil stabilization fund if crude prices remain over $65 in the coming 12 months, the deputy central bank governor said.

“As long as the price of petroleum is over $65 per barrel Iran will gain extra petroleum revenue, which will find its way into the oil stabilization fund,” Hossein Ghazavi said in a phone interview from Tehran late yesterday. He declined to comment on the current balance of the fund, which is aimed at providing protection for the economy should oil prices slide……………………….Full Article: Source

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