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State's share in National Oil Company of Georgia decreases (UPDATE)

Oil&Gas Materials 12 September 2011 19:53
State's share in the National Oil Company of Georgia decreases. Amendments to the Law on Oil and Gas in this regard were initiated at today's meeting of the Parliament's bureau.
State's share in National Oil Company of Georgia decreases (UPDATE)

Georgia , Tbilisi, Sept. 12 /Trend, N.Kirtskhalia/

State's share in the National Oil Company of Georgia decreases. Amendments to the Law on Oil and Gas in this regard were initiated at today's meeting of the Parliament's bureau.

Under current law, the National Oil Company is an enterprise with more than 75 percent of its shares owned by the state. Under the order of the Georgia President, a status of the National oil company has been conferred upon the enterprise.

Upon the amendments, the state will own only little more than 50 percent of the shares.

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