Iran to sell shares of Bandar Abbas Oil Refinery
Tehran, Iran, May 28
By Milad Fashtami - Trend:
A 17-percent block of shares of Bandar Abbas Oil Refinery will be presented at the Tehran Stock Exchange on June 23.
The block of shares contains 2.346 billion shares, Iran's IRIB News Agency reported on May 28.
It was reported in November 2013 that Iran's Oil Ministry had the highest share of privatization among eight Iranian ministries over the past eight years, with a 46.6 percent share of total privatization.
According to the Iranian Privatization Organization, the Education Ministry had the lowest amount of privatization, with just 0.01 percent of total privatization, the Mehr News Agency reported.
According to the report, 1,493,542 billion rials (about $600 billion based on the U.S. official exchange rate of 24,900 rials) of state shares have been transferred since 2005, of which 694,259 billion rials (about $278 billion) have been related to the Oil Ministry.
Under the present interpretation of the Article 44 of Iran's Constitution, hundreds of state-owned companies have been privatized so far.
Edited by C.N.