TEHRAN – The Management and Planning Organization announced that the charters of the National Iranian Oil Company, National Iranian Gas Company and the National Petrochemical Company will be placed before the Majlis (Parliament) by late June.

As envisioned in the current year’s budget bill, the Oil Ministry should after deducting 6 percent of the incomes earned from the oil sales, deposit the remaining revenues with the Department of the State Treasury.

In case, the average oil price is in excess of the figures estimated in the current year’s budget bill, the surplus should also be deposited with the State Treasury fund.

The Oil Ministry should invest $1,900 million in the urban gas conveyance projects and develop gas network projects in 9,000 villages across the nation through making use of the finance loans or buyback contracts.