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IPO to Auction 41 Filling Stations in 14 Provinces
IPO to Auction 41 Filling Stations in 14 Provinces

Iran to Auction 41 Filling Stations in 14 Provinces

Iran to Auction 41 Filling Stations in 14 Provinces

Iran Privatization Organization is scheduled to auction 41 state-owned filling stations across 14 provinces on Tuesday.
The filling stations in Ardabil, Isfahan, Alborz, West Azarbaijan, Bushehr, Khuzestan, Fars, Lorestan and Mazandaran, among others, are planned to be auctioned to private bidders in line with the government’s plan to gradually reduce its monopoly on supply and distribution of gasoline and other fuels, ISNA reported.
Tuesday’s auctions follow up on three major rounds of auctions for state-run gas and compressed natural gas stations nationwide organized by IPO over the last year.
According to reports, 60 gas stations in 13 provinces were put up for auction in February.
Auctions for 40 gas stations in 15 provinces, including Markazi, West Azarbaijan, Fars and Tehran, in December last year reportedly generated at least $70 million.
In September 2016, auctions for 100 gas stations in 25 provinces drew 333 bids with a total value of $112 million. The auction process marked one of the largest privatization bids in the country.
There are 3,600 gas and diesel stations and 2,400 CNG stations in Iran, less than 10% of which are currently owned and run by the government.
According to reports, there is one gas station for every 7,500 people in the UK and one for every 2,600 people in the US. But according to the National Iranian Oil Products Distribution Company’s data, Iran has one gas station for every 22,000 people.
A shortage of gas stations in Iran, particularly in the big cities, creates long queues of motorists 24/7.
The auctions are part of efforts to hand over the fuel retail business to private businesses and further curtail government monopoly in the energy market. Iran’s economy is reportedly 85% state-owned.

 

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