European Petrochem Giants Seek Cooperation with Iran

Renowned European companies have expressed readiness to cooperate in the development of Iran’s petrochemical industry. the National Petrochemical Company’s managing director said.

“Honeywell UOP. which provides quality licenses. is seriously trying to seal a deal to sell its license to Iran.“ Reza Nourouz-Zadeh was also quoted as saying by ILNA on Tuesday. adding that his last week negotiations with international petrochemical companies in Paris. France. were positive.

The official attended Iran’s Second Petrochemical Conference on Upstream and Downstream Industries dubbed “Development and Investment“ at the Paris Continental Hotel last week.

Headquartered in Illinois. the United States. Honeywell UOP is a multinational company developing and delivering technology to the petroleum refining. gas processing. petrochemical production and major manufacturing industries.

Norouz-Zadeh underscored that NPC believes the purchase of license from multinationals like Honeywell UOP should be centralized so that other domestic firms can use the license by paying the company’s rights.

“Now that many petrochemicals are managed by private owners. it is essential to avoid scattered movements and provide needs in a centralized framework.“ he said.

Stressing that decentralized provision of needs can lead to financial losses for the petrochemical companies. Norouz-Zadeh noted that the present atmosphere and limited infrastructure does not allow independent measures by petrochemicals.

The official. who also serves as a deputy oil minister. underlined that Iranian petrochemical companies should help meet each other’s demands. adding that for instance. companies like Damavand in Asalouyeh will soon become ready to provide gas utility to Phase 2 of Pars Special Economic Energy Zone.

Announcing that 63 petrochemical plans are underway nationwide. he said 22 complexes in Asalouyeh produce half of Iran’s total petrochemicals. which make it an important hub. 

“If the zone’s shortcomings are not alleviated by the administration. both investors and workers will incur losses.“ he said.

Norouz-Zadeh noted that Iran’s nuclear deal positively influences all sections of the petrochemical industry. 

“The petrochemical sector has received the most impact from the Joint Comprehensive Plan of Action.“ he said.

Iran and six major powers signed the nuclear agreement in July 2015 and started implementing it in January 2016. Under JCPOA. Iran undertook to curb its nuclear program in exchange for the removal of nuclear-related sanctions. 

 

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