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(Wall Street Journal) Farnaz Fassihi - The chief executive officer of the state-owned National Iranian Gas Company, Hamid Reza Araghi, said over the weekend that the company has declared bankruptcy, according to the Mehr news agency. "Iran's economy is out of breath," said Fereydoun Khavand, an economist and Iran expert based in Paris. "They've always had mismanagement, but they were able to ward it off with oil revenues. Now their pockets are emptying out fast." If sanctions are removed and Iran is able to develop its gas fields, Iranian officials say the country could earn as much as $130 billion a year from natural gas sales - surpassing oil revenues. 2013-11-19 00:00:00Full Article
Iran State Gas Company Faces Collapse
(Wall Street Journal) Farnaz Fassihi - The chief executive officer of the state-owned National Iranian Gas Company, Hamid Reza Araghi, said over the weekend that the company has declared bankruptcy, according to the Mehr news agency. "Iran's economy is out of breath," said Fereydoun Khavand, an economist and Iran expert based in Paris. "They've always had mismanagement, but they were able to ward it off with oil revenues. Now their pockets are emptying out fast." If sanctions are removed and Iran is able to develop its gas fields, Iranian officials say the country could earn as much as $130 billion a year from natural gas sales - surpassing oil revenues. 2013-11-19 00:00:00Full Article
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