US company seeks Iranian petrochemical products

An Iranian energy official says a US company seeks to purchase petrochemical products from Abadan’s Petrochemical Co.

Mas’oud Jebraili, head of Abadan’s Petrochemical Co. in southern Iran, has told the official IRNA news agency that the US firm in question has conducted some negotiations with his company through its European branch to buy Iranian petrochemical products.

Jebraili said the US company, whose name he did not disclose over ongoing talks, has requested to purchase PVC products.

He said a number of Italian, Spanish, German and Indian companies have already laid down requests to import products from Abadan’s Petrochemical Co.

The Iranian petrochemical firm says it registered a maximum annual production of 59,800 tons of PVC in 2005.

Iran’s petrochemical production is expected to hit 70 million tons worth $27 billion at current prices in the current Iranian calendar year (started March 20), officials at the National Petrochemical Company (NPC) have said.

The country seeks to more than double this capacity in the next decade, which requires between $7 billion to $10 billion of annual investment.

Officials said Iran’s petrochemical manufacturers were turning to the Europeans for finance, ditching Chinese investors because they were charging high commissions and fees.

Golrokh Askarieh

Recent Posts

Senior commander: Countering terrorism, maritime piracy primary goals of Iran-Russia-China joint naval drill

The Deputy Commander of Operations of the Iranian Navy has stated that enhancing combat readiness,…

5 hours ago

US arrests pro-Gaza student leader at Columbia University

United States Immigration and Customs Enforcement agents (ICE) have detained a Palestinian graduate student who…

5 hours ago

Iranian Forensics Org.: 78 people killed in Chaharshanbeh Suri incidents in 4 years

Iran’s Forensics Organization says 78 people have lost their lives across Iran in Chaharshanbeh Suri…

6 hours ago

Iran refutes claims of interference in Syrian developments as ‘ridiculous’

Iran's Foreign Ministry Spokesperson, Esmail Baqaei, has dismissed claims made by some Arab media regarding…

7 hours ago

Ukraine ‘may not survive’ Russia offensive: Trump

Ukraine "may not survive" Russia's full-scale invasion with or without American support, U.S. President Donald…

7 hours ago

‘Iran’s Daughters, Pride of the World’

Following the International Paralympic Committee’s recognition of Iranian Paralympic women as the world’s leading nation…

7 hours ago