Manège of Bam riding club officialy opened concurrent with Iran show jumping Grand Prix.
The Iran show jumping Grand Prix was held with the participation of 150 riders in categories of owners and riders.
Photo: Iran’s Lavan Oil Refinery
Lavan Oil Refining Company
Date of Establishment: 1975
Production Date: 1976
Capacity:60,000 bpd
Feedstock: Crude oil from Lavan, Condensate from South Pars
Ownership: Private sector (under the supervision of NIORDC)
Production Units
Atmospheric Distillation, Vacuum Distillation, LPG Recovery, Naphtha Hydrotreater, Kerosene Hydrotreater, Gas OilHydrotreater, Catalytic Reforming (CRU),Isomerization and related utilities
ISO Certificates
ISO 9001 (2008), BS EN ISO 9002 (1994), ISO 14001 (2006), ISO/TS 29001 (2010), ISO 50001 (2011), OHSAS 18001 (1999)
Website: www.lorc.ir
The Department of Environment has officially announced that Lavan Refining Facilities, located at Lavan Island in Persian Gulf waters, is clean and emits no pollutants in the sea or air.
About Lavan Island
Lavan Island (traditionally known as hidden pearl island or Sheikh Shoeyb island ) is an Iranian island in the Persian Gulf. It has an area of 78 square kilometres (30 sq mi).
The island has one of the four major terminals for export of crude oil in Iran alongside Kharg island. Lavan island sits on top of Lavan gas field, containing 9.5 trillion cubic feet (2.7×1011 cubic metres) of gas. Administratively, the island forms part of the Lavan Rural District in Kish District, Bandar Lengeh County, Hormozgan Province. The island is served by Lavan Airport.
Germany agreed €1.2bn loan for Iran rail plan
Germany has reportedly agreed to provide Iran with a €1.2 billion ($1.27 billion) credit line to help finance a key rail project in what is seen as the biggest foreign financing the country has been able to secure after the removal of sanctions.
Bloomberg has quoted an unnamed official from the Central Bank of Iran (CBI) as saying that the financing will be provided to the Islamic Republic through Germany’s state-run lender KfW IPEX. The official added that it would be used for the development of the railway from Tehran to Mashhad.
The funding has been agreed in principle and is close to being finalized, Bloomberg quoted Michael Tockuss, chairman of the Germany-Iran Chamber of Commerce, as saying. It would be the biggest credit line Iran has secured from foreign sources since the easing of sanctions in January, he added.
The announcement comes only a few days after the tragic crash of two trains on Tehran-Mashhad railway left dozens dead and many wounded. The crash was blamed on human error but nonetheless revived a debate at home that the country’s ageing rail fleet needs to be renovated.
Germany’s Siemens has already announced serious plans to help develop Iran’s railway system. Local media reported earlier this year that the company had signed several agreements with Iran to develop its railway network, including the electrification of the Tehran to Mashhad line. Also, officials in Tehran said earlier this month that talks were underway with Siemens to acquire high-speed trains from the company through 30-year leasing deals.
Iran authorized imports cars from the US
Iran says imports of cars from the United States are authorized as long as they are produced by non-American brands.
Farhad Ehteshamzadeh, the president of Automobile Importers Union of Iran, was quoted by the domestic media as saying that he had made an inquiry to the same effect from the Ministry of Industry, Mine, and Trade.
The Ministry, Ehteshamzadeh emphasized, announced that only imports of cars that have been produced by American brands are banned.
He added that imports of American brands that have been produced in a third country are also forbidden, ISNA news agency reported.
Honda, Toyota, Volvo and BMW cars that had been imported in Iran from the US.
Ehteshamzadeh added that 500 Iranian citizens have imported non-American brands of automobiles, but the Iranian police still failed to register them. He expressed hope that the related institutions would take note of the announcement of the Ministry of Industry, Mine, and Trade and allow the cars to be registered for use in Iran.
ISNA had earlier reported that the police was failing to register Honda, Toyota, Volvo and BMW cars that had been imported in Iran from the US.
Iran’s logistics industry forecast to worth over $45b
The size of the Iranian logistics industry will exceed $45 billion by 2020.
Revival of economic growth is expected as phasing out of restrictions improves investor confidence, leading to consistent growth of the logistics industry from 2017.
“This industry is expected to benefit from investments related to the Iran’s Sixth Development Plan, which is likely to accelerate domestic economic activities, and contribute to the development of transportation infrastructure.”
Iran is a key logistics hub in the region due to geographical location advantages, with access to Europe and Asia by land route, improving connectivity and trade relations with landlocked countries in Central Asia.
Proposed logistics parks in border areas are expected to transform the warehousing segment during the forecast period, from 2016 to 2020./ frost.com
Indian Oil plans $5.5 billion expansion of refinery co-owned by Iran
An Indian Oil Corp unit plans to invest $5.5 billion to gradually raise the capacity of its smallest refinery co-owned by Iran to 300,000 barrels per day (bpd), its chairman said, to help meet a surge in demand for refined products in the world’s fastest growing major economy.
The Nagapattinam plant operated by IOC’s subsidiary Chennai Petroleum Corp requires a complete overhaul to produce the cleaner, higher grade fuels needed to meet rising demand in southern India, said B. Ashok, chairman of the two firms.
India, seen as the most important driver of world energy demand growth in the years to come, is building new refineries and expanding a number of existing plants to meet demand.
According to a 2015 report by the International Energy Agency (IEA), India will require up to 329 million tons of oil products annually by 2030. As of last year India consumed 183 million tons of refined products, government data showed.
The government is also planning a countrywide switch to the use of cleaner transport fuels compliant with Euro IV emission standards from April and with the Euro VI standards from April 2020.
CPCL’s two plants, in which Iran’s Naftiran Intertrade Co Ltd has a 15.4 percent stake, are located in the southern state of Tamil Nadu.
Initially the oil processing capacity of the Nagapattinam plant will be raised to between 120,000 bpd and 180,000 bpd and in the next phase to 300,000 bpd, Ashok said.
Nagapattinam site has extra land available that makes expansion easier to accommodate than at CPCL’s bigger 210,000 bpd Manali refinery, Ashok said.
IOC, the country’s biggest refiner, has already announced separate plans to spend 500 billion rupees ($7.3 billion) by 2022 to raise its refining capacity by about 30 percent to 2.08 bpd.
Expansion of the Nagapattinam plant is not a part of that plan and IOC is also now considering raising the capacity of its Panipat refinery in northern India to 500,000 bpd from the initially planned 400,000 bpd.
Ashok said a proposal for the Nagapattinam project is likely to be considered by the board in three to four months after the preliminary studies are completed.
Asked about the cost of the plant he said, “The thumb rule is that setting up a million tons of capacity costs 25 billion rupees”./ Reuters
Iran crude steel production rise 9.6 percent
Iran produced 14.850 million tons of crude steel in the first ten months of 2016, with 9.6 percent rise from 13.555 million tons in the same period last year, the World Steel Association (WSA) reported.
The country produced 1.64 million tons of crude steel in October 2016, with 10 percent increase from 1.324 million tons in October 2015.
Iran’s steel production stood at 16.110 million tons in 2015, indicating 1.4 percent fall from 2014.
As a major steel producer in the region, Iran boosted its steel mills across the country in recent years, as central Isfahan and southwestern Khuzestan provinces remain the major steel producers.
According to WSA, Iran was the biggest producer of crude steel in the Middle East in 2013. The country’s rank was 14th in the world in 2014.
Iran sign oil NDA with Pergas consortium
The National Iranian South Oil Company has signed its first non-disclosure agreement (NDA) with a consortium of international companies, known as Pergas, for carrying out studies over two oilfields in Iran.
The consortium comprises 11 European, Canadian and Asian firms as well as the Sharif University of Technology and has signed the NDA for holding studies on Karanj (Asmari, Pabdeh, and Khami oil deposits) and Shadegan oilfields (Asmari and Bangestan reserves).
Based on the deal, the consortium will have 6 months to hand over the result of its studies on the fields to the NISOC. Pergas may submit its proposal for development of the fields sooner if it is ready.
Minister of Petroleum Bijan Zanganeh has spent a long time on investigation of the framework of NISOC’s new framework of oil contracts.
Over 60 companies are currently in talks with the NISOC for cooperation with the company under the new framework of the contracts.
The deals consider development of four fields of Parsi, Karanj, Rag Sefid and Shadegan, including nine oil reserves, are specified for development based on the contract after announcement and confirmation of the Minister of Petroleum.
The nine reserves include Asmari, Pabdeh and Khami in Karanj field, three reserves in Asmari, Bangestan and Khami in Rag Sefid field, Asmari field in Parsi field and two reserves of Asmari and Bangestan in Shadegan field.
The four fields were selected for the purpose due to the recovery coefficient, enhanced recovery and integration of the reserves.
NISOC contracts are part of a basket of contracts that is operational in nature, while its purpose is development of reserves and using enhanced recovery methods./Shana
British Petroleum task force to study Iran oil investment
Global energy giant British Petroleum (BP) has reportedly started a serious push to look into the prospects for making post-sanctions investments in Iran’s oil industry.
Reuters said in a report that BP has formed a special task force to study Iran’s oil industry investment potentials in what could be a fresh sign of the growing interest of major corporations in Iran’s promising oil and gas prospects.
BP’s task force for Iran will coordinate the oil major’s operations in the country as well as any discussions with the country’s national oil company – NIOC.
To cushion against the risks of the remaining US anti-Iran sanctions that ban any American involvement in the country’s economy, BP has decided to exclude its American CEO Bob Dudley from its Iran task force and instead appoint chief financial officer Brian Gilvary – a British national – to lead the mission.
The move highlights the lengths to which multinationals will go to exploit lucrative new business in Iran, Reuters added.
BP is an old name in Iran and was the first company to produce oil in Iran more than a century ago when it was called the Anglo-Persian Oil Company.
The company had no recent major involvement in Iran’s oil industry before and after the imposition of US-led sanctions against the country in 2012.
The formation of a special task force for Iran follows recent indications that rivals like France’s Total and Norway’s DNO are already cementing their foothold in the Iranian market through development deals.
Total was the first major western company to sign a deal with Iran earlier this month for the development of a major gas project – Phase 11 of the country’s South Pars field.
Norway‘s DNO has also agreed to study the development of the Changuleh oil field in western Iran – what is expected to lead to a development deal next year.