World Business and Economic Analysis
World Business and Economic Analysis
Iran Mercantile Exchange has published its first ever English annual report for the fiscal year ending March 19, 2016.
According to the report by the IME’s International Affairs and public relations office, the IME’s first English annual report for the fiscal year ending March 19, 2016 presents to the general public the IME’s position in national economy and its role in creating a competitive, transparent and productive market as well as developing financial instruments, implementing new financial instruments to expand IME's scope of activities and preparing the groundwork for IME with an aim to gear up for more international relations and the necessity of publicizing related information.
With that in mind, the report includes the IME’s General Data, Organizational Structure, General Trading Data, Financial Data Summary, Board of Director’s Message and CEO’s Post, IME’s History, Field of Activity and Strategies, Vision and Mission, Capital and Shareholders, Legal Environment of IME, IME’s Function in 2015, Key Highlights and Best practices, The Market Status and Trading Statistics, Commodities, Suppliers, Commodity-based Securities and Listed Warehouses, Active Brokers and Brokers’ Performance, Company's Financial Position, Comparison between Actual Results and Budgets, IME’s Governance and Management Structure, Board of Directors and Human Resources, Priorities in 2016 (1395) and finally Financial Statements, Independence Auditor’s report and explanatory Notes.
The PDF version of the annual report 2015 is accessed here.
An HOA (heads of agreement) was signed between NIOC and POGIDC within the framework of Iran’s new model for oil contracts called Iran Petroleum Contracts (IPC).
The newly-signed agreement marks the first IPC sealed following the implementation of the Joint Comprehensive Plan of Action (JCPOA)
Under the terms of the deal, the National Iranian Oil Company (NIOC) has put Persia Oil & Gas Industry Development Company (POGIDC) in charge of development of and implementation of Enhanced Oil Recovery (EOR) methods in Yaran, Marun and Kupal oilfields.
The first IPC, revolving around development of Yaran joint oilfield, was inked on Tuesday morning at the presence of Iran’s Oil Minister Bijan Zanganeh, chairman of board of directors of POGIDC Gholamhossein Nozari and President of the Headquarters for Execution of Imam Khomeini's Order (EIKO) Mohammad Mokhber.
The developmental contract, meanwhile, was signed by Deputy Head of NIOC for Development and Engineering Affairs Gholamreza Manuchehri and POGIDC Managing Director Naji Sadouni.
Persia Oil & Gas Industry Development Company (POGIDC) marks one of the eight Iranian firms who have been qualified by the Iranian Oil Ministry for conducting activities in the upstream oil sector is also commonly known as the exploration and production (E&P) sector.
Today, in addition to development of Yaran joint field, POGIDC was also entrusted with the task of increasing oil recovery in Marun and Kupal oilfields in the form of two separate contracts.
NIOC had earlier announced that Iranian companies active in E&P areas were allowed to take charge of small and medium-sized fields as well as to seek assistance from foreign firms if need be.
Yaran oilfield, which is being developed in two sections of North and South Yaran, remains as one of West Karun joint fields.
Under a buyback scheme, POGIDC is now developing the northern region of the field and the plan to produce 30 thousand barrels of crude oil per day is on the verge of operation.
Privatization in Iran making good progress. State-run company should privatized and it seems huge amount of money will injected to Economy. There are excellent opportunity for foreign investor to buy governmental companies or make joint-venture with Iranian partners to set-up investment in Iran.
By governmental assignments envisioned in “The law of Enforcing of General Policies of Article 44 of the Constitution”, its relevant rules and regulations, and approvals of the Divesture Board, hereinafter the Board, the Iranian Privatization Organization, hereinafter the Organization, intends to transfer stocks/assets of the following enterprises with the terms and conditions as mentioned in this advertisement. Tender documents and other transferring conditions are accessible via the official website of the Organization at the following addressess: www.ipo.ir. The applicants are highly requested to consider the condtions mentioned in the bid proposal form and transferring contract.
