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Statute of the National Oil Company.

Country/Territory
Iran, Islamic Republic of
Document type
Legislation
Date
2016
Source
FAO, FAOLEX
Original source
Official Journal, No. 20742, 24 May 2016.
Subject
Energy
Keyword
Oil Energy conservation/energy production Business/industry/corporations Internal trade International trade Transshipment Transport/storage Institution Standards Research Education
Geographical area
Asia, Caspian Sea, Middle East, Near East and North Africa, Persian Gulf, Southern Asia
Abstract

The Statute consisting of 84 articles aims to regulate general principles regarding the National Oil Company. This Company has an independent legal personality but affiliated to the Oil Ministry. The Company has been established for unlimited period of time and its central office is located in Tehran. The Company’s main activities include management and operation of the upstream activities of the oil industry and related industries as well as domestic and foreign trade of oil. Thus, exploration and extradition of oil resources, their sustainable use and sustainable development, contracting with individuals, companies, foreign governments and trans-national organizations, establishment and protection of pipelines, machines and equipment of oil industry, storage and transportation of oil, promoting the company’s productivity to the global standards, performing the related research and educational programs, providing sea transit and aviation services as well as cultural and social activities to protect environment are other responsibilities of the Oil Company. Structurally, the Company consists of a General Assembly, a Board of Directors, a CEO, an Independent Auditor and a legal inspector. The General Assembly has two annual meeting and a number of extraordinary meetings if needed and the Minister of Oil is its head.

Full text
Farsi
Website
www.dastour.ir