Mohammad Reza Aref, the First Vice President, has issued the government's resolution regarding the method of calculating the price of delivered feedstock and received oil products in the physical and financial interactions of the subsidiaries of the Ministry of Oil with domestic refineries and petrochemical complexes. This resolution is designed to establish a mechanism for calculating the price of delivered feedstock and received oil products in the interactions of the subsidiaries of the Ministry of Oil with domestic upstream oil companies and petrochemical complexes that consume the received feedstock in the production process.
Details of the New Resolution
According to this resolution, the pricing of feedstock and main products based on Ministry of Oil notification number 903, dated January 12, 2024, will be valid until the end of September 2026. This notification specifically refers to the determination of the price of feedstock and oil products in inter-organizational interactions and seems to aim at creating stability and transparency in the oil and petrochemical market.
Impacts and Consequences of Implementing the Resolution
From the beginning of October 2026, the calculation of the price of feedstock and oil products subject to this resolution will be carried out based on the mechanism established in the new resolution. These changes may have significant impacts on the cost price of oil and petrochemical products, particularly affecting refineries and petrochemical complexes. It seems that this resolution is aimed at improving pricing methods and creating a suitable environment for investment in the country's oil and petrochemical industry.
The aforementioned resolution has been signed by Mohammad Reza Aref, and it is hoped that with its implementation, the pricing process in the oil and petrochemical industry will move towards improvement and transparency.
