10:53
Reported

News Brief

  8/29/2011, Av 29, 5771

Iran to Privatize Seven Refineries


The head of Iran's national oil company has announced that the Tehran government plans to privatize seven of the country's nine refineries by the end of the Iranian-calendar year in March 2012, according to a Monday report by state-run Press TV.

Managing Director Alireza Zeighami of the National Iranian Oil Refining and Distribution Company told reporters on Sunday that the Islamic Republic also plans to build several new refineries and upgrade a number of existing ones.