Middle east Petroleum & Chemical Industry

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Active in the field of oil, gas and petrochemical

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Today : Saturday 26 May 2018

Zangeneh Lauds Parliament for shelving Article 53

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TEHRAN, Jan. 07 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh wrote Parliament Speaker Ali Larijani a letter on Saturday expressing satisfaction at the parliament’s decision to cancel Article 53 of the budget bill that would allow supply of feedstock to petrochemical plants at a lower price that what the petroleum ministry had proposed.
Zangeneh, through the letter, said cancellation of the article will set the grounds for bolstering and developing the petrochemical industry of the country.

“This move will bolster and create a bright and stable outlook for investments and development of the petrochemical industry,” the official wrote.
Article 53 of the national budget bill concerns pricing of feedstocks to petrochemical plants that puts the prices lower than what the Iranian Ministry of Petroleum has envisioned for petrochemical companies.

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Middle east petroleum & chemical industery