Special Oil Syndicate in the Pipeline

Special Oil Syndicate in the Pipeline

Issues and problems discussed by private producers and manufacturers during the Third National Congress on Oil Industry Contracting System will be addressed by a special committee and necessary measures will be taken, said deputy oil minister for engineering affairs, IRNA reported.
Proposal for establishing an oil industry syndicate, which ought to be set up by the private sector, was an achievement of the congress, Seyed Emad Hosseini said, adding: "As a government organization, the oil ministry faced restrictions in establishing such a body."
The syndicate will have oversight of the oil industry with an administrative and consultancy role. Currently, the industry is only accountable to the oil ministry, the scope of which is limited on account of being governmental. "The absence of such an association is quite evident," Hosseini said.
During the past year the norm was to respond to problems of the private sector issuing reports on subjects such as recommendations on contractual dispute resolutions, currency and fuel pricing, and support for domestic production.
The Third Congress on Oil Industry Contracting System was held at the Research Institute of Petroleum Industry (RIPI) attended by Hosseini and Roknod’din Javadi, managing director of National Iranian Oil Company (NIOC) on October 14. The emphasis of the meeting was to strengthen the role of private sector in the oil industry. Recognizing challenges and introducing means to expand and promote a contracting system in line with the full presence of the private sector in oil industry projects, support for manufacturing and provision of machinery and equipment to strengthen the domestic private sector, new means to provide financial resources and absorb investments in the oil industry, transparency of upstream oil contracts, and project management structures were the main themes of the congress.

Short URL : http://goo.gl/e1oL0C

You can also read ...

Oil loading capacity at Kharg has increased to 8 million bpd, nearly three times over and above the current level of oil and condensates exports.
Close to 780 million barrels of oil were exported from Iran’s...
South Azadegan field in Khuzestan Province will be the first oilfield to be tendered under the IPC model.
Oil Minister Bijan Namdar Zanganeh said on Tuesday Iran's...
South Pars Refinery to Process Gas Condensates
Iran is making efforts to increase its gas condensates...
In terms of output, nuclear power will continue to dominate.
Even a downtick in photovoltaic solar investment this year...
Europeans Abandoning Large Utility Companies
Home energy use is finally exciting to people. Unfortunately...
China Gasoline Exports to  N. Korea Dwindle
China's gasoline exports to North Korea reduced to a dribble...
US inventories fell 3.6m barrels in the week to Aug. 18.
Oil prices fell on Wednesday, weighed down by concerns of...