Iran plans privatizing oil refineries

Tehran Times ^ | 4/11/09 | staff

[pissant]

Iranian refineries currently need around 12 billion dollars to renovate their facilities and increase output.

Iran, the world’s fourth largest oil producer, unveils an economic plan to privatize its oil refineries in line with its privatization scheme.

The Oil Ministry and the Iran Privatization Organization (IPO) are in talks to reach an agreement on transferring the shares of the refineries to the private sector, said Minolta Eskandari, a director at the National Iranian Oil Refining and Distribution Company.

Article 44 of the Iranian Constitution stipulates that the country’s economic system shall be based on public, cooperative and private sectors.

[pissant]

Putin and the chicoms give him lectures on free markets, the Euroweenies reject his call for more bailouts, now Iran is privatizing industries. Yet Obama marches down the marxist road unfazed....

[St. Louis Conservative]

Unfortunately, U.S. firms like Exxon, Chevron, Valero & Halliburton will probably be shut out.

[pissant]

I don’t care about that. I’m more worried about what the Obamas and Pelosis and Maxine Waters have in store for these companies.

[C210N]

This could be along the lines of a store, having raised prices by 50%, suddenly drop them by 50% for a "sale", only later to be raised again.

Iran needs investment, so privatize to get the capital improvements, and then after sufficient money has poured in, the refineries can be re-nationalized

[Perdogg]

Buy stock in Lukoil.

[St. Louis Conservative]

I saw an article awhile back that speculated that if there is a rash of oil company bashing and new taxes, many of them will pack up and reincorporate in Dubai or Switzerland. Most of the oil supermajors do relatively little business in the continental U.S. - most of their sales and profits comes from overseas.

However, I guess the domestic independent oil companies could get hit....and those guys are the ones who can afford it the least.