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Electronic Oil Tenders
Energy

Electronic Oil Tenders

Deadline for firms to register the oil industry’s vendors list was extended to October 22 and tenders will be held online, said the engineering deputy of the oil ministry, IRNA reported.

Seyyed Emad Hosseini said the online tendering system increases transparency of transactions and will allow the whole process of oil supply to be carried out electronically.

The vendors list will bring together the names of firms certified by the oil ministry to bid.

More than 2,000 companies have registered and the number is expected to increase by 4,000 before the end of the deadline. The deadline expired on September 22 but the oil ministry extended the period due to the rush of firms to register on the final days.

Companies that do not register in the list will not be considered.

The new list will also nullify scattered lists of vendors and “significantly reduce fraudulent activity,” according to Hosseini.

The vendors list is being compiled in line with declared government policies.

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