Refinery suspends US crude imports, buys from Iran
Oil Price writes that an independent Chinese refiner has suspended crude oil purchases from the United States and has now turned to Iran as one of its sources of crude, media reports, citing an official from the refiner, Dongming Petrochemical Group.
Petrochemical exports not affected by US withdrawal
The Petrochemical Commercial Company of Iran Managing Director has announced: “The structures set up for the petrochemical Industry during the sanctions have been preserved. Therefore, the US withdrawal from the JCPOA and a probable return to reimposing certain sanctions will not create problems in this sector.”
Turkish company investment in Izeh Petrochemicals
An MoU has been signed between Khuzestan Province Governorate, southwestern Iran, and the Turkish Gama Enerji company. At the signing ceremony, Turkish Gama Enerji representative acting on behalf of the CEO relayed his company’s interest in investing in Khuzestan, and said: “Our company began its activities in Iran 18 months ago and we have been interested in making a large investment here.”
China to invest billions in Iran petrochemical industry
A high-ranking delegation from HQC company representing the Chinese government visited Chabahar in southern Iran to assess its potentials for the construction of a petrochemical park. The visit took place within the framework of and MoU signed between the Iranian and Chinese presidents and the drafting of a document promoting mutual cooperation between the two countries.
The British lean towards investing in Iran
Following a visit by British investors to Iran, the Social Security Investment Company of Iran has announced their interest in investing in various economic sectors in Iran.
Iran and Italy sign 35MM euro agreement
Iran and Italy have signed an agreement worth 35 million euros for polypropylene production from natural gas.
The agreement was signed in Tehran between Techint Engineering & Construction and Ardabil Petrochemical Company. The project duration is predicted to be 18 months.
China ready to invest in oil and petrochemicals in Iran
Iran’s Minister of Petroleum, Bijan Zangeneh, met for talks with Wang Yang Gao, Chief of China’s International Chamber of Commerce yesterday.
At the meeting, Yang Gao pointed out the extensive trade ties between Iran and China, and stated: “China needs energy resources and our old friend, Iran, is rich in these resources. This can help expand ties between the two countries.”