Kala Naft Co. Dissolved

Kala Naft Co. DissolvedKala Naft Co. Dissolved

An Iranian oil company has been closed down and handed over to the National Iranian Oil Company (NIOC) in spite of the fact that it was supposed to be privatized as per Article 44 of the constitution. Upon the recommendation of Roknoddin Javadi, deputy oil minister and the approval of NIOC board of directors, the Manufacturing Support & Procurement Kala Naft Company Tehran ( MSPKNC) was disbanded, Mehr news agency reported.

Not only MSPKNC but also some other companies including Pira Drilling Co., Iranian National Drilling Co., Gas Distribution Co., Fuel Conservation Company in addition to Oil Telephone Co. were in the list of privatization; however, the process of privatizing seems to have ground to a halt in these companies and now they are to be considered a part of NIOC.

Highlighting the fact that suggestions to remove oil giants from the privatization list has been approved by the government's economic commission, Mansour Moazzami, deputy oil minister for planning and monitoring added the resolution was passed after 14 months of negotiation between oil and economy ministries and the privatization organization.

On dissolution of MSPKNC, Roknoddin Javadi, deputy oil minister appointed Ezatollh Akbari as the supervisor of Kalanaft Support, Construction and Procurement Management Co. (KSCPM). According to NIOC, KSCPM was established after dissolution of MSPKNC and it is to shoulder the responsibility of supporting domestic production in oil industry.