The fourth meeting of the Founding Board of the non-governmental Oil Industry Guarantee Fund was hosted by Sina Energy Holding, one of the fund\u2019s principal shareholders. During the session, key executive decisions were finalized to launch what will be the country\u2019s largest foreign exchange\u2013denominated guarantee fund dedicated to the upstream oil sector.<\/p>\n
At the meeting, the final composition of shareholders and each company\u2019s capital contribution were formally approved. Consensus was also reached on the structure of the Board of Directors and the fund\u2019s executive pillars, marking the transition of this financial institution into its operational phase.<\/p>\n
The non-governmental Oil Industry Guarantee Fund is being established with initial capital of \u20ac300 million and the participation of 21 partners. These include the National Iranian Oil Company (NIOC), the National Development Fund of Iran, the Iran Energy Exchange (IRENEX), 11 exploration and production (E&P) companies, five commercial banks, the Oil Industry Research and Technology Fund, and the Kish Free Zone Organization.<\/p>\n
The fund\u2019s primary mandate is to issue guarantees in the oil and gas sector and to facilitate and support financing for upstream projects, thereby strengthening investment capacity and financial risk management within the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"