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