Transferring of NIOC subsidiaries uncertain

TEHRAN Jan 08 (Shana) NIOC’s subsidiaries transfer to private sector is not yet decided.

Head of the office in charge of implementation of Article 44 of the constitution, Ali Kardar, made the above remarks adding Transfer Board has decided to halt handing over NIOC’s 12 subsidiaries.   

He added that Petroleum Ministry and NIOC officials will take a final decision on the issue, without giving further details.

Privatization Organization has listed 12 subsidiaries of NIOC as the companies that should be transferred to private sector over the fourth quarter of current Iranian calendar year ending on 20 March 2014.

By SHANA

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