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Iran intelligence ministry arrests oil officials on corruption charges

Iran intelligence ministry arrests oil officials on corruption charges

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Date: 10 January 2016 14:32

Baku, Azerbaijan, Jan. 10

By Khalid Kazimov – Trend:

Iran's Intelligence Ministry has arrested three oil officials on corruption charges, an intelligence deputy minister said.

The ministry has arrested three managers of the Iranian Offshore Oil Company (IOOC) who were allegedly involved in “financial crimes” committed in 2012-2013, an unnamed deputy intelligence minister in charge of anti-corruption bureau told ISNA news agency Jan. 9.

According to the deputy minister the suspects are accused of involving in financial crimes worth 200 million euros carried out through organizing “limited tenders”.

He further added that four individuals who are not the government’s staff have also been arrested in connection with the same corruption case.

Earlier in December 2013, Iranian judiciary officials accused Babak Zanjani, an Iranian billionaire, of massive fraud at the Oil Ministry and money laundering. He has been kept under custody and attended court hearing sessions since then.

According to its website, the IOOC is a large offshore oil producing company which shares one third of Iranian oil export, operating in Iranian side of the Persian Gulf and Oman Sea.

Iran’s current oil production is estimated to be around 2.8 million barrels per day of which about one million barrels are exported.

By holding 157 billion barrels of recoverable crude oil reserves, Iran possesses the world's fourth largest oil reserves.

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