21 May 2014

Tunisia: Govt Approves Separation of Purchases and Sales of Hydrocarbons From January 1, 2015

Tunis, — A ministerial working session, on Wednesday, approved the separation of the purchases and sales of crude oil and natural gas from January 1, 2015.

The meeting held at the Government Palace in Kasbah was chaired by Minister in charge of Co-ordination and Monitoring of Economic Affairs Nidhal Ouerfelli.

The meeting approved the separation of purchase and sale of crude oil and natural gas between concerned public companies.

Under this decision, the Tunisian Company of Refining Industries (STIR) and STEG will be able to meet their needs without recourse to the Tunisian Company of Petroleum Activities (ETAP).

"This measure will help ensure the transparency of oil supply operations and relevant accounts in the state and companies concerned.

It will also help in the move towards better rationalisation of the oil subsidy system," the Prime Ministry said in a statement.

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