The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding was building petrochemical projects totally valued at $8.5 billion dollars.
Addressing a ceremony to break the grounds for construction of a petrochemical project in the southwestern city of Andimeshk on Thursday, Jafar Rabiei said PGPIC had finalized a deal with the National Iranian South Oil Company (NISOC) for gathering associated gases in oil-rich regions.
“Today, the petrochemical industry has joined the National Iranian Oil Company (NIOC) for gathering flare gases which are of high value,” he said.
The official said Bidboland II Gas Refinery, Lordegan Urea and Ammonia Project and Ilam’s Olefin Plant, totally valued at more than $4 billion, were to be launched next calendar year.
National Iranian Oil Company is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as US sanctions start to bite, Iranian and western sources said.
State-owned National Iranian Oil Company has raised the official selling price differentials for all of its four crude oil grades loading in April and headed to Asia, a company source told S&P Global Platts Wednesday.
The CEO of the National Iranian South Oil Company (NISOC) said the company was planning to carry out 6 contract packages with Rls. 50,000 billion of credits by Masjed Soleiman Oil and Gas Production Company.
Construction of a new ethylene oxide plant will begin soon in Andimeshk, Khuzestan Province, director of public relations of Persian Gulf Petrochemical Industries Company said Saturday.
OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Persian Gulf Arab allies over-delivered on the group’s supply pact while Venezuelan output registered a further involuntary decline.
Iran is ready to take the phases 13, 22, 23, and 24 of the South Pars Gas Field in the Persian Gulf on stream by the end of the current local calendar year (on March 20).