IRAN STARTS 18 PROJECTS
Iran has introduced 18 petrochemical projects to be financed by Chinese companies, Marzieh Shahedaee, director of projects at the National Petrochemical Company (NPC) of Iran, said.
Lines of credit (LCs) for four projects, namely Sabalan, Lordegan, Bushehr, and Masjed Soleiman, have been opened and the rest are being followed up, Shana news agency quoted Shahedaee as saying on November 14.
She referred to Andimeshk, Sadaf, Ilam, Fasa, Jahrom, Darab, Miandoab, Golestan, Ardebil, and Zanjan as the projects which have been introduced to the National Development Fund to be financed.
The NDF has allocated $1 billion to four petrochemical projects, she noted.
China has so far provided finance for six projects which will add 10.2 million tons to Iran's petrochemical sales, she said, adding that 2.5 billion euros in Chinese LCs have been opened.
Hamidreza Rostami, the planning and management head of NPC, said in October that Iran's petrochemical sector has set an annual output target of around 129 million tons by the end of the country's sixth five-year development plan (2021).
The country produced 44.5 million tons of petrochemicals in the past Iranian calendar year (ended on March 20, 2015), with over 10 percent rise from 40.5 million tons in its preceding year.
Iran also exported 14.109 million tons of petrochemicals, valued at $8.205 billion in the first seven months of the current Iranian fiscal year, which started on March 21. Despite a 36.36% uptick in volume of petrochemical exports, revenues rose by just 0.01% compared to the same period last year, according to the Iran Customs Administration's report released on November 10.
Some $30 billion of investment opportunities have been identified in Iran's petrochemical sector, which will be certainly welcomed by European and Asian investors if the sanctions against the country are lifted, National Iranian Petrochemical Company's Managing Director Abbas She'ri Moqaddam said in April.
|March, 19, 08:19:00|
|March, 19, 08:15:00|
|March, 19, 08:10:00|
|March, 19, 08:05:00|
|March, 19, 08:00:00|
|March, 18, 11:45:00|
PENNENERGY - The Trump administration accused Russia on Thursday of a concerted, ongoing operation to hack and spy on the U.S. energy grid and other critical infrastructure, and separately imposed sanctions on Russian officials for alleged high-tech interference in the 2016 American presidential election.
IAEA - IAEA Director General Yukiya Amano commended efforts by Pakistan to increase nuclear safety and security as the country works to triple its nuclear power capacity. Prime Minister Shahid Khaqan Abbasi commended the IAEA for the support provided to Pakistan in the use of peaceful nuclear applications. Pakistan “was ready to further strengthen its partnership with the IAEA and contribute towards the achievement of the Sustainable Development Goals worldwide,” the Prime Minister said.
PLATTS - "The increase in competition induced new practices in the market that resulted in imports returning to normal," Petrobras' Jorge Celestino said during a presentation of the company's 2017 financial results.
PLATTS - The objective of this program is to increase its domestic refinery utilization rates to 90% from current levels of 10-20%, Kragha said speaking to Platts in Cape Town on the sidelines of the African Refiner Association conference.