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Crippling debt sinks National Iranian Gas Company

Source: Radio Zamaneh

Iran's National Gas Company says it has gone into insolvency with debts of 100 trillion rials.

National Iranian Gas Company

Hamidreza Araghi, the CEO of the National Gas Company, confirmed the news to Mehr News Agency, saying: "The ministry of oil, public works and the Parliament are currently involved in restructuring the company's financial assets, and the new sources of its income will be defined in its budget next year."

Oil Minister Bijan Zanganeh told Mehr that the company's financial problems are due to erroneous decisions made by the previous administration in implementing the restructuring of government subsidies, which has caused various problems in the production and distribution of energy all across the country.



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