ran, the world’s fourth largest oil producer, unveils an economic plan to privatize its oil refineries in line with its privatization scheme.

The Oil Ministry and the Iran Privatization Organization (IPO) are in talks to reach an agreement on transferring the shares of the refineries to the private sector, said Minolta Eskandari, a director at the National Iranian Oil Refining and Distribution Company.

Article 44 of the Iranian Constitution stipulates that the country’s economic system shall be based on public, cooperative and private sectors.

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