20 August 2022 - 18:26
  • News Code: 460802
OIPC Following Up Pending Contracts In Europe

TEHRAN (Shana) -- The Chairman of the Presiding Board of Oil Industry Pension Fund (OIPC) said: “The Economic Group of Oil Industry Pension Fund is following up pending contracts in European countries.”

According to Oil Industry Pension, Savings and Welfare Fund, Abdul Hossein Bayat said on the sidelines of the 22nd meeting of the Supreme Projects Council on Wednesday: “One of the reasons for the delay in some of the current projects in the oil and energy sector is the failure of foreign parties including some renowned German companies to honor their contractual obligations.”

Criticizing the excessive optimism of some former managers to foreign parties, he added: “There is evidence that some signatories of contracts have acted without regard to legal issues and under the influence of foreign companies and their internal agents.”

The OIPC Chairman stated: “In short, people who have signed contracts against the interests of the country and the people in the past should be held accountable to the competent legal authorities.”

Bayat stated: “In some half-finished projects, contracts for manufacturing and supplying goods and equipment have been concluded with major European industrial companies, including some German ones, but those companies, some of which famous commercial brands, despite receiving advance payments, have failed to deliver the purchased equipment and goods for various excuses, including sanctions and abuse of friendly relations shown by our country at the time of concluding the contracts. This is despite the fact that the date of concluding the contracts precedes imposition of the cruel sanctions.”

The Chairman of the Presiding Board of OIPC added: “Those European majors that have signed cooperation agreements and received advance payments must deliver the equipment and goods immediately, otherwise they will face severe legal actions in European courts and their titles will be revealed in the domestic and international media. Legal groups have been formed to enforce the rights of companies and are currently pursuing legal contracts abroad, including in Germany.”

Bayat emphasized: “Sending the purchased equipment and goods according to the official and valid contracts as the first priority or refunding the advance payments along with their interest are the two options for the contracting parties. In addition, it has been decided that the companies that, following the cruel sanctions, have inflicted losses to the Iranian side in these projects, will not be given a second chance to participate in the Iranian oil industry as well as other industries.”

He stated: “In terms of the contracts in question, the country's power is in a good position, and in negotiations with unscrupulous foreign companies, a third option is not on the table, because unlike in the past, now the domestic power is able to manufacture the types of equipment required for the projects at the appropriate level and quality that can compete with the manufacturing equipment of major European companies, and secondly, today, other capable countries and companies are available to Iran to replace them.”

News Code 460802

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