Cypriot cabinet adopts changes regarding Hydrocarbons Company

Cypriot cabinet adopts changes regarding Hydrocarbons Company

 

Review by Christos T. Panagopoulos –

The Council of Ministers which convened yesterday decided to adopt changes regarding the name of Cyprus National Hydrocarbons Company (CNHC) and the Law on Hydrocarbons.

According to an official press release, the Council of Ministers approved on Wednesday the renaming of CNHC to Cyprus Hydrocarbons Company Ltd (CHC) as well as the proposed regulations for the amendment of its Articles of Association.

The Council was also informed by Energy Minister, Yiorgos Lakkotrypis, (photo) on the intention of his ministry to amend the 2007 Law on Hydrocarbons, with a view to appoint non-executive members of the CHC Board as well as to regulate the issue of the monitoring of the company by the General Auditor.

Source: CNA