Iran to privatize all refineries, petchem units

@H= TEHRAN (Reuters) - Iran plans to privatize all its refineries and petrochemical units, Oil Minister Massoud Mirkazemi was quoted as saying on Saturday.
""The work on ceding (ownership of) oil companies has begun and based on plans, all petrochemical units and refineries will be ceded, including service, drilling and support companies,"" the Mehr News Agency quoted Mirkazemi as saying.
He did not give details on when it would happen.
Earlier in April, a senior privatization official said Iran aimed to raise about $12.5 billion by privatizing more than 500 state firms during the 2010-11 year, including two refineries and two car makers.
Iran, the world’s fifth-largest crude exporter, is seeking to speed up the sale of state assets in a bid to encourage private investment and boost the economy, which is under U.S. and UN sanctions over Tehran’s disputed nuclear program.
On Friday, state Press TV said Iran had transferred shares in six petrochemical plants and power stations to a social welfare investment organization of the Islamic Republic’s armed forces, instead of debt payment.
Oil reserves in Iran rank third-largest in the world at approximately 136 billion barrels as of 2007. This is roughly 10 percent of the world's total proven petroleum reserves. Iran is the world's fourth-largest oil producer and is OPEC's second-largest producer after Saudi Arabia.
Iran has the world's second-largest reserves of natural gas (15% of the world's total). It contains an estimated 974 trillion cubic feet (Tcf) in proven natural gas reserves. About 62% of these reserves are located in non-associated fields.