20 February 2024 - 18:11
  • News ID: 637915
Red tape causes long delay in signing contracts: NIOC chief

SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director said too much bureaucracy causes a long delay in signing contracts.

Delivering a speech at the First Conference of Legal Council of Oil Industry on Monday, Mohsen Khojastehmehr added, “We have to remove negative factors such as unnecessary regulations if we expect the oil industry to play its essential role in achieving an eight percent growth in the country’s economy during the 7th Development Plan.”

Based on tender regulations, it takes more than three years to sign an oil contract, which is not at all acceptable, complained the CEO of NIOC.

He said some of the regulations are contradictory, reiterating “we cannot move speedily” due to such rules.

The First Conference of Legal Council of Oil Industry aimed at enhancing synergy between legal managers of the Oil Ministry was hosted by the Legal Affairs Management Department of the National Iranian Oil Company (NIOC) and attended by Vice President for Legal Affairs Mohammad Dehqan, Khojastehmehr, and legal managers of the Oil Ministry’s affiliated companies at NIOC's Kushk Hall Center in Tehran on Monday.

News ID 637915


Your Comment

You are replying to: .
0 + 0 =