Irans Minister of Petroleum Bijan Namdar Zanganeh (file photo)[/caption]TEHRAN Feb 24(Shana)--A number of oil refineries will resume their presence on Tehran Stock Exchange in near future.
The decision has been made after some agreements reached on improving the performance of oil refinery and approval of new regulations, Iranian Minister of Petroleum Bijan Namdar Zanganeh said.
Last month, the cabinet approved regulations suggested by the capital markets Stability Committee on improving the quality of oil products which gives oil refineries a five year time to upgrade the quality of their products including gasoline, gasoil and jet fuel.
Under the regulations, oil refineries should improve the quality of their products based on new specifications announced by Petroleum Ministry. Oil refineries also should set aside 30 percent of their annual profits for improving the quality of the products they offer.
Recently head of Security and Exchange Organization (SEO) Mohammad Fetanat announced that six oil refineries have started upgrading with satisfying progress among them Tehran oil refinery as pioneer.
By SHANA
