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Iran: Majlis will review articles of association of four major oil & gas companies

TEHRAN, Nov. 21 (Mehr News Agency) - Majlis (Iran's parliament) is expected to review articles of association of a number of the nation's major oil, gas, petrochemical, and oil products distribution companies in the next few weeks.

Articles of association of four major companies affiliated to the Oil Ministry -National Iranian Oil Co. (NIOC), National Petrochemical Co. (NPC), National Iranian Gas Co. (NIGC) and National Iranian Oil Products Refining and Distribution Co. (NIOPRDC), currently being discussed in the cabinet, will be soon presented to the Majlis for further deliberation, the Persian service of ISNA reported on Tuesday.

The companies' current articles of association had been written before the victory of the Islamic Revolution, therefore, there is a need to make major revisions in them to be compatible with current situations.

The companies' limited activities before the Revolution have significantly expanded now. In the past, many amendments have been made to them, though.

... Payvand News - 11/21/06 ... --

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