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  • 22-02-21

    Iranian parliament says share of National Development Fund to stand at 38 percent

    (MENAFN)Iranian parliament stated that the share of National Development Fund (NDF) from the country’s oil and gas export revenues in the recently adjusted budget bill for the next Iranian year 1400 should stand at 38 percent if crude oil exports exceed one million barrels per day.

    The NDF share is going to be decreased to 20 percent, though; the 18-percent gap is declared as government’s debt to NDF and should be settled in the future, in case of exporting one million barrels per day of oil and gas condensate (or less), reported IRNA based on a decision approved by MPs.

    The share of the National Iranian Oil Company (NIOC) from the oil and gas condensate export revenues reached to 14.5 percent, as a 14.5-percent share is also owed to the state-owned companies affiliated to the Oil Ministry.

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