The official hoped that two docks will be constructed in 18 months while the third will come on stream within 24 months thanks to the capabilities of Iranian contractors.

On equipping the second terminal at Shahid Rajaei Port, Saeidnejad said, “15 indigenous cranes will be installed in the near future.”
Director of Iran’s PMO noted that design, installation and implementation of the cranes were carried out by an Iranian company thus saving a considerable amount of hard currency and paving the way for exports of manufactured items by domestic firms.
“With a total investment of 21 million, the project is estimated to be completed within 18 months,” he continued.
Earlier in March, 2017, a contract was also signed with the private sector to prepare grounds for exports of petroleum products produced at Persian Gulf Star Refinery through Persian Gulf Special Economic Zone.
Under the terms of the contract, the domestic company will create necessary infrastructures in the next five years to ship 22 million tons of petroleum products to destination markets.
As the main point in North-South Corridor, Shahid Rajaei Port enjoys access to freeway and railway and is adjacent to three major refineries.
According to plans, the Iranian port will undertake a portion of annual exports of oil products from these refineries.

The post Oil products exports from Iran’s Rajaei Port to hit 34m tons appeared first on IRAN This Way.

Deputy Head of NIOC for Development and Engineering Affairs Gholamreza Manouchehri said “a list recently published by National Iranian Oil Company was relevant to applicants from Spain, Germany, Italy, Austria, Japan, China and South Korea which had been qualified in Pre-Qualified Iran’s Oil and Gas Upstream Projects Tender Round.”

“Names of Lukoil and Gazprom from Russia were on the list,” highlighted the official asserting that a second list of qualified foreign companies will be soon released.

Manouchehri, while estimating that Russian firms, whose name were among qualified candidates, will be present in the second, underlined that NIOC has inked Memoranda of Understanding (MoUs) with Russia’s Zarubezhneft and Tatneft both of whom were absent in the first published list.

“NIOC must have approved of all firms with which a cooperation agreement has been inked,” noted the official.

He further maintained that claims on disqualification of Russian firms reiterated that Iran welcomed cooperation with credible Russian parties who held new technologies.

National Iranian Oil Company has so far sealed MoUs with seven Russian oil giants for development projects or boosting recovery factor in various oil and gas fields.

Accordingly, research and development MoUs have been signed with Russian firms like Lukoil, Tatneft, Zarubezhneft and Gazprom for expansion of seven Iranian oilfields including Mansouri, Ab Teimour, Aban, West Paydar, Dehloran, Cheshmeh Khoshk and Chenguleh.

Accordingly, Russian firms enjoy the highest rate of cooperation in upstream sector of Iran’s oil and gas industry as compared with Asian or European companies.

Nevertheless, names of Russneft, Tatneft and Zarubezhneft were missing on the recently-published list by NIOC giving rise to hypotheses that the three Russian oil giants had been disqualified.

The post Iran release 2nd list of qualified oil investors appeared first on IRAN This Way.

Poland has begun new cooperation with Iran in the post-JCPOA era over development of oil trade as well as collaborations for investment in upstream sector of Iranian oil and gas industry.

So far, National Iranian Oil Company (NIOC) has signed spot contracts for crude sales to Lotos S.A. and PKN Orlen while negotiations have also begun with another Polish oil giant for investment in Iranian oil and gas industry.

Managing Director of National Iranian South Oil Company (NISOC) Bijan Alipour, while pointing to the held talks with a Polish firm over implementing developmental projects and boosting recovery factor in southern Iranian oilfields, announced that senior officials of a Polish oil and gas refinery will travel to Iran late January to finalize talks with Iran.

Moreover, National Iranian Oil Company (NIOC), in a statement released last week, affirmed adequacy of 29 international oil and gas companies willing to put in tenders for Iran’s upstream oil sector with the name of Poland’s PGNiG SA on the list.

Poland’s biggest refiner PKN Orlen announced a major purchase of crude oil from Iran thus becoming the latest company to join the already long list of European clients of Iranian oil.

What’s more, NIOC and PGNiG have recently signed into a Memorandum of Understanding (MoU) for development of Sumar field in west Iran.

In the same line, Deputy Head of NIOC for Development and Engineering Affairs Gholamreza Manouchehri has described the deal with the Polish over Sumar oilfield saying “PGNiG will conduct studies in the field for six months before making a proposal and a contract will be inked in case both side reach agreement.”

Chairman of Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG) Peter Wozniak referred to the age-old history of ties between Iran and Poland stressing that his company had returned to Iran after a six-year hiatus, “given our outstanding experiences in Pakistan and Norway, we will hopefully succeed in development of Sumar field.”

From 2006 to 2010, PGNiG held several talks with Iranian Offshore Oil Company (IOOC) for expansion of Lavan gas field in the Persian Gulf and eventually refused to cooperate with NIOC after years of using delaying tactics.

Bordering Iraq in the west of Kermanshah province, Sumar oil field was discovered in 2009 and is believed to hold an in-place reserve of 475 million barrels of which 70 million barrels is recoverable.

The post Polish’s Lotos S.A. and PKN Orlen participating in Iran oil industry appeared first on IRAN This Way.

Chinese firms were expected to lift between three million to four million barrels more Iranian oil each quarter in 2017 than last year, four sources with knowledge of the matter estimated. That would be about five percent to seven percent higher than the 620,000 barrels per day (bpd) of Iranian crude the country has imported during the first 11 months of 2016, according to the customs data.

Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), won an exemption from the group’s production cuts agreed to on Nov. 30 and may raise output slightly.

China’s demand for foreign crude could touch new highs as state-run refiners start up new plants and as Beijing allows more independent refiners to import crude, with the country forecast to remain a key driver of 2017 demand growth.

State refiner Sinopec Corp and state-run oil trader Zhuhai Zhenrong Corp, the two biggest Chinese lifters of Iran’s oil, are set to roll over annual supply agreements with National Iranian Oil Co (NIOC), with combined volumes of about 505,000 bpd, two sources with knowledge of the agreements said.

Additionally, China National Petroleum Corp (CNPC) and Sinopec expect to lift more oil this year from two oilfields they operate under service contracts, the sources said.

A press official with Sinopec said the company does not comment on operational matters. CNPC and NIOC did not immediately respond to requests for comment.

Sinopec signed a development deal for the Yadavaran field in late 2007 with CNPC signing a deal for the North Azadegan field in 2009, after Japanese and European companies pulled out of the projects, both in the southwestern Iranian province of Khuzestan, due to sanctions over Iran’s nuclear program.

Both fields started pumping oil in early 2016, with North Azadegan reaching full production in the third quarter and Yadavaran in the fourth quarter, and they are currently pumping at around 160,000 bpd.

“The terms of return on investment are still being finalized …but it’s safe to say Sinopec is going to lift more from Yadavaran this year than last,” said a Beijing-based oil executive familiar with Sinopec’s operations on Yadavaran.

A separate senior trading source estimated that Sinopec could lift about four million barrels of Yadavaran crude, considered a heavy grade with an API gravity rating of about 25, every quarter this year. The person did not give an earlier comparison.

After first shipments last October, CNPC is expected to lift an average of about three million barrels from North Azadegan each quarter, said a second senior trader with knowledge of CNPC’s Iranian production. /Reuters

The post Iran’s oil exports to China to hit record appeared first on IRAN This Way.

Each consignment, Qamsari added, comprises around one million barrels of oil.

The official added that the sales to the two companies had been conduct through spot contracts.

Qamsari further underlined that Iran expected to increase oil sales to Shell and BP in the near future through more spot contracts.

He added that talks were also underway with both companies on long-term sales deals.

Qamsari said that Iran’s average 2016 oil exports stood at around two million barrels per day.

Iranian media reported that the country’s current crude oil production was close to four million barrels per day — almost the same as before sanctions were imposed against the country in 2011.

Iran exports the bulk of its crude oil to Asian consumers including India, China, South Korea and Japan.

Figures released earlier this week showed that Iran’s oil exports to Asian clients had doubled in November compared to the figure for the same period last year.

A report by Reuters to the same effect showed that the four major Asian consumers of Iran’s oil had imported a total of 1.94 million barrels per day of oil from the country in November. The figure, the report added, was 117 percent higher than the amount for last year.

The post Iran increased oil and gas sales to Shell and BP appeared first on IRAN This Way.

Dwi Soetjipto, the chief executive officer of the state-owned Pertamina oil and gas corporation, was quoted by media as saying that that the projected imports from Iran would be provided to the Cilacap refinery in Indonesia’s Central Java province.

“We will try to bring in .. for the Cilacap refinery about 1 million barrels for experiment. When we know the result, the yield, then we could negotiate for the long term,” Soetjipto was quoted by Reuters as saying.

The announcement comes on the heels of a visit to Iran by Indonesia’s President Joko Widodo last week.

During President Widodo’s stay in Tehran, Iran and Indonesia signed over a dozen basic agreements to promote cooperation in a variety of areas such as banking, food and agriculture, oil and gas as well as general trade.

A key agreement was one for selling more than 500,000 metric tons of liquefied petroleum gas (LPG) by Iran to Indonesia in 2017.

Iran also expressed its commitment to invest in Indonesia by building an oil refinery in East Java and a 5,000-megawatt mobile power plant in an unspecified location, the Jakarta Post reported.

Both countries also explored the possibility of teaming up to operate Iran’s Ab-Teymour and Mansouri in the country’s southwestern oil-rich province of Khouzestan.

The current annual level of Iran’s exports to Indonesia stands at around $74 million while the imports stand at about $83 million, Iran’s IRNA news agency reported.

Both countries have already announced serious plans to boost the level of their trade to as high as $2 billion.

The post Iran to sell 1mn barrels of oil to Indonesia appeared first on IRAN This Way.

“I am aware, they have drafts of a new oil contract, which is a mixture of production, sharing and buyback,” he said. “It is extremely important for us to be able to manage some own part of oil, so that we could include this oil in our assets.”

He noted, “We are not going to be involved in services only, we have been discussing it with them, and as yet this is what they should decide among themselves.”

Iran, he added, had confirmed its interest in having the company work in Iran.

“Vagit (Alekperov Lukoil’s president) has met Iran’s oil minister and they confirmed the interest our company participates, as we have a very good reputation as we put operational Qurna in that region,” he continued.

“I hope very much, if Iran among themselves offers acceptable terms of the oil contract, we shall be pleased to work in that republic.”

Earlier, Alekperov said Lukoil may sign contracts with Iran on two fields Al-Mansuri and Ab-Teymur in October-November 2017. He said that recoverable reserves of each of these fields exceed one million tons.

Iran has already signed three memoranda of understanding with Russian oil companies Lukoil, Tatneft and Zarubezhneft.

Earlier, a representative of National Iranian Oil Company (NIOC) Gholamreza Manouchehri said that the Russian companies are potential investors in oil and gas projects in Iran.

The post Lukoil participating in Iran oil projects appeared first on IRAN This Way.

Iran’s output will be 3.797 million barrels per day per an agreement reached in the OPEC 171st ordinary meeting on Wednesday, November 30.

Hence, Iran’s average crude production level for the first half of 2017 will be 3.797 million barrels.

As of January 2017, Iran’s production will be 3.707 million per day, adding 90,000 barrels per day to the figure gradually.

Per OPEC approved table, Iran will be the only country to add to its production in the first six months of 2017: 90,000 barrels per day on the average. Iran’s average output level would not exceed 3.797 million barrels per day in the first six months of 2017.

Iran will be able to produce 3.9 million barrels per day oil in certain weeks in the first six months of 2017 but the average figure in the six-month period would not exceed 3.797 million per day.

Per OPEC agreement, Saudi Arabia should cut 486,000 barrels per day from its output to bring its output level overall to 10.058 million barrels per day.

The petroleum ministers of the Organization of the Petroleum Exporting Countries (OPEC) decided to curtail their total production by 1.2 million barrels a day.

For the first ever since 2008, OPEC will cut its production in consistency with the Algiers September 28 accord.

In accordance with the Algiers accord, the Organization’s output ranged between 32.5 million barrels per day to 33 million barrels per day.

Oil prices are predicted to rise after the November 30 agreement to 50 to 55 dollars a barrel.

The post Iran Oil Revenues to Rise by $10bn Next Year appeared first on IRAN This Way.

Energy plays a pivotal role to provide financial resources for Iranian public services and the industrial sector and the deal has paved the way for removal of sanctions on Iranian’s oil sector and benefited the country, the top oil producers and exporters as well as the oil consuming countries.

The absence of Islamic Republic of Iran’s from global markets during sanctions era had caused major problems because some countries were not able and ready to replace country’s oil from other states due to the lack of infrastructure.

The petroleum industry and petrochemical structure of some countries were compatible with Iran’s crude oil and any change for compatibility with other countries would have proven difficult and costly.

However, the implementation of JCPOA created a new opportunity for Iran, oil companies and consumers so that they could recommence their trading like in the past.

Thanks to the JCPOA, the foreign countries and big oil companies have had an immense opportunity for investment in Iran’s oil sector and buying oil from the Islamic Republic.

Following the implementation of the JCPOA in January, the European countries resumed oil imports from Iran or began negotiations for imports of oil from the major oil producer and a new blow has been breathed in Iran’s oil sector which would be materialized in the short-term and some others in the long-run.

The international relations of Iran which is known as the fourth largest oil and the second largest gas reserves in the world have undergone major change following the implementation of JCPOA, and its icy relations with other countries seems to be thawing in the years of sanctions.

From the early days of clinching the JCPOA, a large number of directors of international companies active in oil industry have traveled to Tehran along with their respective country’s economic delegations and voiced their willingness to resume the ties cut-off for years.

Thanks to new model of oil contracts, dubbed as the Iran Petroleum Contract (IPC) which aimed at attracting foreign companies and investments in Iran’s oil and gas development projects, a large number of officials of the most reputable European oil companies, Total SA of France, the world’s fourth major oil company, and Royal Dutch Shell, the Anglo-Dutch firm in particular, have so far held talks with Iranian side aimed at amending mutual cooperation.

Iran’s Oil Export to Europe Up

Recently, National Iranian Oil Company (NIOC) announced that Iran’s oil exports to Europe, which had nearly stopped during sanctions, has risen to 700,000 b/d and the country’s oil exports in October stood at 2.44 million barrels per day.

The Executive Director for International Affairs at National Iranian Oil Company (NIOC) Mohsen Ghamsari has announced that Iran’s volume of oil exports would rise by 150 thousand barrels per day (bpd) within months, stating that the daily amount of 600 to 650 thousand barrels of crude oil are being deployed to the European countries.

Touching upon Iran’s exception to OPEC’s quota and the possibility to boost crude exports from the country, Ghamsari underscored that a daily average of 2.2 million barrels of oil is now being deployed to world markets, adding that under present circumstances, the consumption volume in domestic markets and refineries stands at about 1.8 to 1.85 million barrels per day.

Meanwhile, the Islamic Republic of Iran is also seeking to achieve 13 percent of the production share at OPEC and the feasibility of boosting production by 500 thousand bpd after the oil freeze deal.

Meanwhile, so far Iran has announced several times that it would spare no effort to increase crude exports to 2.35 million bpd in a few months in order to reach pre-sanction levels.

Iran’s oil sales to Asia up 92%

On Oct 2016, Iran’s Ministry of Petroleum reported a dramatic jump in its oil exports to Asia, emphasizing that its supplies to the world’s largest consumption zone are now much closer to pre-sanctions levels.

According to the Ministry’s report, Iran’s exports of crude oil to Asian clients for August stood at around 1.7 million barrels per day (mb/d). The figure showed an increase of 92 percent year-on-year, adding the Asian countries currently comprise 63 percent of Iran’s oil export destinations.

Iran’s Petroleum Minister Bijan Zanganeh said in mid-October that Iran’s oil production had already reached close to pre-sanctions levels. Zanganeh emphasized that the country is currently producing about four million barrels of oil per day, PressTV wrote.

Earlier, Reuters quoted market data as showing that Iran’s oil sales to Asian clients for July stood at an average of 1.6 mb/d, adding that the figure showed an increase of above 60 percent compared to the same period last year.

China imported 0.56 mb/d which was the largest volume of imports among the four Asian clients of Iran’s oil, Reuters said. India was the second biggest importer of Iranian oil at 0.52 mb/d followed by South Korea and Japan each respectively with import volumes of 0.29 mb/d and 0.25 mb/d.

In mid-January, a series of economic sanctions that had been imposed on Iran for multiple years were removed after a deal between the country and the 5+1 – the five permanent members of the UN Security Council plus Germany – was implemented.

The sanctions barred foreign investments in the Iranian oil industry and also imposed a low ceiling of 1 million bpd on the country’s oil exports among a series of other economic restrictions.

The aforementioned points illustrate that the historical nuclear deal has not only benefited the Islamic Republic of Iran but also has provided advantages for many oil companies and consumers.

The deal has paved the way for major oil companies to make investment in Iran’s development and exploration projects.

Additionally, fostering production capacity and enhancing the rate of recovery from oil and gas fields and reinforcing Iran’s share of oil and gas markets will benefit consumers and guarantee their energy supply security.

The post Report: Iran become main oil supplier after JCPOA appeared first on IRAN This Way.

From 2008 to 2015, Iran’s petrochemical industry had not used finance and usance. But thanks to efforts by the administration of President Hassan Rouhani and the conclusion of the Joint Comprehensive Plan of Action (JCPOA) we have been witnessing achievements in the petrochemical industry. Finalization of an agreement between Kian Petrochemical Plant and Germany’s Linde is a case in point.
The most important and the most practical measure by the Iranian government in favor of the private sector has been its efforts to win guarantee for foreign investment in the petrochemical sector. In the past, foreign companies invested in Iran because the government guaranteed exports of petrochemical products, but today there is no such a guarantee. Therefore, the government is seriously looking for a solution to resolve this problem. Germany’s BASF and Linde, France’s Axens, South Korea’s Hyundai, Royal Dutch Shell and South Africa’s Sasol are among top companies engaged in negotiations with Iran. All of them have been speaking about the issue of guaranteeing investment in Iran’s petrochemical industry. They know quite well that the rate of return on deposits in the banks is about one percent, while the rate of return on investment in Iran’s petrochemical projects is at least 20 percent.

Petchem Plants Startup

Over the past several years, Iran has been stepping up construction of petrochemical plants. According to official data, the number of operating petrochemical plants has increased from 46 in 2013 to 53 today with an output of 54 million tons a year. Three more petrochemical plants are projected to become operational in one month. Therefore, the rated capacity of these petrochemical plants will cross 64 million tons.

Furthermore, more than 50 other petrochemical plants with a nominal capacity of 41.3 million tons are under construction. Experts see the startup of these 50 projects as the second jump in Iran’s petrochemical industry to bring the country to its real standing in this sector.
Over the past two years, 11 petrochemical projects have come on-stream in Iran. Some of these projects are unique as they have become operational while Iran was international restrictions.

Some of them are as follows: hydrogenation unit of Shazand Petrochemical Plant, Petrochemical Research and Technology Company’s the semi-industrial HDPE unit, Fajr-2 centralized utility, Ilam HDPE unit, PBR/SBR unit of Takht Jamshid Petrochemical Plant, West Ethylene Pipeline’s 8th to 10th tranches, Lorestan HDPE/LDPE unit, Urmia Petrochemical Plant’s sulfuric acid unit, Mahabad Petrochemical Plant’s HDPE/LDPE unit, Shohada ammoniac/urea unit in Marvdasht, Assaluyeh ethylene glycol (Morvarid Petrochemical Plant) and the second phase of 11th olefin project (Kavian Petrochemical Plant).
The startup of petrochemical projects will continue in Iran. According to plans, 11 projects with a capacity of 6.2 million tons are to become operational this calendar year to March 2017. Furthermore, 6 other projects are forecast to come online next calendar year.

Petchem Sales Up in Iran

Conditions have improved for Iran’s petrochemical exports following the implementation of JCPOA last January. Iran’s petrochemical exports have grown 25% post-sanctions.

Over the past three years, Iran’s petrochemical sales has increased from 27.3 million tons to 39 million tons a year, earning the country $19.7 billion in revenue.
The value of Iran’s petrochemical exports is nearing its previous levels. In 2012, Iran gained $12 billion from petrochemical exports. Today, its revenue stands at $10 billion although oil prices have been almost halved.

Over these years, Iran’s petrochemical industry has always insisted on the completion of the value chain and downstream industries through proposing new development projects of high value-added and acceptable economic justification based on spatial planning studies with a view to exporting products, completing value chain for presentation to qualified investors, helping value engineering in petrochemical projects for reducing costs and providing infrastructure and utility for meeting the needs of the private sector.

Target-Oriented Petchem Projects

A gap created in the research and technology of Iran’s petrochemical industry due to widespread privatization in this industry over the past two years has been healed. Private companies, in cooperation with Petrochemical Research and Technology Company (PRTC), are constantly looking for making research projects practical and boosting cooperation with this state-run company. At present, the research and development network in Iran’s petrochemical industry is one of the largest networks in Iran.

Leading research centers towards practical studies and resolving problems of petrochemical industries have been among the effective measures taken by the current administration.
Helping acquire technical know-how for producing chemicals and catalysts needed in the petrochemical industry in collaboration with Iranian elite and the National Foundation of Elites and domestic capabilities like universities and PRTC, indigenizing technical savvy and engineering services including issuance of license, basic design of petrochemical products, helping commercialization of indigenized technical savvies, supporting domestic manufacturing of equipment needed in projects, cooperation with legal bodies for improving business environment, helping remove red tape and streamline bureaucracy, examining bottlenecks in manufacturing companies and finding solutions to them have all been on the agenda of the government.

The first chemical park in Iran, which is based on the styrene and butane value chain, has been envisaged in Pars Special Economic Energy Zone. The project, which has been privatized, will use 600,000 tons of styrene produced by Pars Petrochemical Company. The construction activities of the chemical park are steered by National Petrochemical Company (NPC).
Over the past three years, all those involved in Iran’s petrochemical industry have constantly focused on endogenous and practical research programs. Over this time they have made great achievements, some of which are as follows:

Technical savvy for olefin furnace, technical know-how for rotating packed bed (RPB), technical savvy for UHMWHD production, technical savvy for biodegradable polyethylene films in LDPE and LLDPE grades, technical savvy for HDPE process, technical savvy for two grades of polyvinyl alcohol (PVA) production, technical savvy for producing epoxy vinyl ester, indigenization of technical knowledge for producing MMP high-density polyethylene, technical savvy for Netzer SB magnesium chloride and magnesium ethoxide, technical knowledge for producing Glycerol Monostearate (GMS), basic technical savvy for spherical gamma alumina, technical savvy for MEK catalyst, technical savvy for LTSC catalyst, basic technical design for ZnO Modified catalyst, technical savvy for isomerization catalyst for refineries, and technical savvy for alumina-based palladium for complete saturation process of olefins.
Over the past one and a half years, important contracts have been signed in petrochemical research and technology.

Awarding license for propylene-via-methanol (PVM) process to Sabzevar Petrochemical Plant, awarding license for methanol production process to Sabzevar Petrochemical Plant, awarding license for the production of two catalysts for polyethylene production (IRSAC 518 and IRSAC 3530) to Lorestan Petrochemical Company, awarding license for dehydrogenation catalyst to Exir Farayand Novin company (used at Bandar Imam Petrochemical Plant), awarding license for methanol catalyst production (Sadr Shimi Company), awarding license of catalyst (EDC 6) to Gohar Saram Company, signing research contract for acquiring technical savvy for naphtha isomerization catalyst to be used at Isfahan refinery, contract for applying technical knowhow for polymer concrete with PRTC for repairing concrete structures at Mobin Petrochemical Plant, production and sale of 800 kilograms of MEK 9 catalyst to Shimi Tax Aria, production and loading of 1.5 tons of dry reforming catalyst for Khuzestan Petrochemical Plant and joint cooperation with Hampa Energy Hedco for mastering ammoniac technical know-how.
PRTC, as the research arm of Iran’s petrochemical industry, has achieved good results from the catalysts it has produced in industrial tests. These results include the production of 1.5 tons of dry reforming catalyst for Khuzestan Petrochemical Plant, production of 800 kilograms of catalyst for Shimi Tax Aria Company, production of 1.5 tons of IRSAC 510 (similar to THS) for Maroun, Amir-Kabir and Shazand petrochemical plants, production of 50 kilograms of PZ catalyst for Mitsui polyethylene for Bandar Imam Petrochemical Plant, production of 20 kilograms of dehydrogenation catalyst for Bandar Imam Petrochemical Plant, production of 60 kilograms of DLP peroxide for Bandar Imam Petrochemical Plant, production of 600 kilograms of methanol catalyst, production of 30 tons EDC catalyst with its own technology for Bandar Imam Petrochemical Plant, production of three batches of 50-kilogram MMP catalyst for HDPE demo consumption at the Arak center of the company, production of 20 kilograms of acetic acid catalyst for Fanavaran Petrochemical Company and successful replacement of catalyst at Jam Petrochemical Company.

New Technologies for Petchem Sector

Today the state-of-the-art oil and gas technologies could be seen at petrochemical plants across the globe. Due to its high value-added, this industry has always encouraged investors to benefit from cutting edge technologies. In Iran, in spite of restrictions, experts and researchers are in quest for new technologies. They try their best to apply new technologies to new projects. For instance, meticulous studies have been conducted to prevent sale of raw substances and complete the value chain and create new capacities for high-value products like propylene. Over the past two years, lots of activities have been done in this sector. For instance, 52 new projects have been introduced for implementation under the 6th Five-Year Economic Development Plan and afterwards with a view to completing the production chain, location of new petrochemical development projects, making new estimates and envisaging feedstock needed for new petrochemical projects.

Among other important activities of the 11th administration regarding petrochemicals are the formation of specialized working groups like the working group for removal of obstacles to production, settlement of disputes between companies, settlement of disputescompanies. between companies and the stock market in setting feedstock prices and clearing accounts of privatized

By Javad Asghari, Source: Iran Petroleum

The post Report: Facilitating investment in Iran petrochemical ind. appeared first on IRAN This Way.