The CEO of the National Petrochemical Company (NPC) said the sanctions and the current economic pressure on Iran could not throw a wrench in the productivity of petrochemical plants in the country.
Speaking to Shana, Behzad Mohammadi said the current international conditions did impose restrictions to the petrochemical industry, adding, however, petrochemical companies were able to solve their problems and would exert every effort not to be impacted by the sanctions.
He said the Iranian Minister of Petroleum Bijan Zangeneh was seriously pursuing financing of the ongoing petrochemical projects, saying preparing the ground for funding the projects through Islamic bonds was under way.
Mohammadi, who is also deputy petroleum minister for petrochemical affairs, also expressed optimism that funding of the projects would take place within a few months.
Iranian Parliament Speaker Ali Larijani highlighted the futility of US plots to hit the Islamic Republic’s economy and said Washington has failed in its attempts to cut Tehran’s oil exports down to zero.
The International Monetary Fund Monday cut its forecast for average oil prices to just below $60 per barrel in 2019 from close to $70 per barrel in its last World Economic Outlook in October on concerns about global economic growth.
The copper price came under renewed pressure on Monday after headline figures showed a slowdown in the Chinese economy to annual rates of growth not seen in nearly three decades.
Iranian and Turkish officials agreed to solve problems obstructing trade interactions across the common border of the two countries, and vowed to further strengthen cooperation and good neighborliness.
Iranian Ambassador to Ljubljana Kazzem Shafei, in a meeting with Slovenian Deputy Foreign Minister Dobran Božič, said that trade transactions between the two countries had increased by 23% in the first 9 months of the current Iranian calendar year (started on March 21, 2018), adding that the two countries will hold joint economic commission in the near future.
China’s state-run energy giant is making a new approach to strike a $3 billion Iranian oil field, seeking to take advantage of waivers allowed under US sanctions even as two European nations have ended crude purchases, according to people familiar with the matter.