Valiollah Jafari, the director of oversight on issuers at the Securities and Exchange Organization, discussed the status of the refining industry yesterday at the fortieth industry roundtable of the Stock Exchange. In this meeting, attended by managers and representatives of active companies in this field, the challenges and existing problems in the operations of refineries were seriously examined.
Regulatory Challenges and the Need for Stability
One of the central topics raised in this meeting was the necessity of establishing stability in the guidelines and regulations related to the purchase of crude oil and the sale of petroleum products. Industry players emphasized that regulations should have more stability and predictability so that shareholders and companies can plan their activities based on specific and predictable economic factors.
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Refinery managers stressed that the variability of some regulations and guidelines related to refinery operations, as one of the influencing factors on the financial and operational planning of companies, should be taken into account. In this regard, the necessity of clarifying the economic frameworks governing the purchase of crude oil and the sale of products was raised as a fundamental need.
Liquidity Status and Claims from the Government
Another part of the discussions in this meeting focused on the liquidity status of refineries. Given the significant claims of refining companies against the government, the simultaneity of financial obligations and responsibilities related to the implementation of developmental projects has created considerable challenges for these companies. Managers emphasized that the obligation to allocate part of the companies' financial resources to other areas hinders the implementation of developmental projects and the improvement of refinery performance.
In this context, managers called on the government to create incentive mechanisms and facilitation measures to expedite the conditions for executing refinery projects and supplying petroleum products. They believe that these actions could help improve liquidity status and reduce existing problems in the refining industry.
At the end of this meeting, refinery managers, while explaining the current situation and existing problems, emphasized the need for closer cooperation with the Stock Exchange Organization and utilizing its capacities to solve existing challenges. It is hoped that, considering the issues raised, necessary actions will be taken to improve the status of the refining industry.
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Al Jazara
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