Energy
2 Solar Plants for Yazd (Financial Tribune – 23 May 2017)
he government has given license for construction of two solar power plants in the city of Mehriz in Yazd Province, a local official said on Sunday.
“Construction of one of the photovoltaic power stations, with production capacity of 10 megawatts, will commence in a few weeks,” Mohammad Hassan Sabaqzadegan, managing director of Yazd Regional Electricity Company, was quoted as saying by ISNA. Mehriz has 37,000 power subscribers, according to the official. Referring to the province’s “reasonable” power consumption in comparison to the national average, Sabaqzadegan noted, “The number of blackouts in Yazd Province is one tenth of other provinces.”
Iran Oil Co. Committed to Higher Output With Help From Oil Majors (Financial Tribune – 23 May 2017)
The National Iranian Oil Company has received oilfield development proposals from international companies that together target a 3-million-barrel increase in daily crude oil production capacity, NIOC’s deputy for development and engineering affairs said.
“We will sign petroleum contracts in the oil sector and significantly expand exploration and drilling in offshore fields,” Gholamreza Manouchehri said on the sidelines of a conference on offshore oil and gas fields in Tehran, IRNA reported. “According to proposals by foreign companies, there’s room to ramp up oil output capacity by 3 million barrels a day,” the official said.
“Major Danish, Dutch and Norwegian companies, with advanced technology in offshore exploration, have shown interest in working in Iran,” said the official. Iran has drilled more than 5,000 oil and gas wells and between 2,700 and 2,800 wells are operational. Over the past several months, major oil companies such as Royal Dutch Shell, Total S.A., Indonesia’s Pertamina and Malaysia’s Petronas signed agreements to study Iranian hydrocarbon reservoirs and submit development proposals six months after completing their surveys.
Iran’s PGPIC, European Firm Discuss $3.3b Petrochem Project (Financial Tribune – 23 May 2017)
The Persian Gulf Petrochemical Industries Company (PGPIC) has reached a preliminary agreement, worth €3 billion ($3.37 billion), with an unnamed European company on building a petrochemical plant in the southern port city of Asalouyeh in Bushehr Province.
“PGPIC has signed a memorandum of understanding with a European company on construction of a large petrochemical complex to produce two major polymer products for the first time in Iran,” Adel Nejad-Salim, managing director of the PGPIC, was quoted as saying by Shana on Monday.
PGPIC is Iran’s largest petrochemical company with over 60 subsidiaries, owning more than 11% of Iran’s capital market. Its exports are estimated at $8-9 billion per year. According to published reports, PGPIC is the second biggest petrochemical exporter in the Middle East.
Business
TCCIMA to host S. Korean trade delegation today (Tehran Times – 23 May 2017)
Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) will host a South Korean trade delegation in its building today, the official website of TCCIMA announced.
The delegates led by the chairman of Busan Chamber of Commerce and Industry are active in the fields of maritime, ship building, marine structures, oil, gas, and petrochemicals as well as offshore projects.
International
Iran, Turkey call for effective coop. on fighting terror (Iran Daily – 23 May 2017)
Iranian and Turkish deputy foreign ministers Rahimpour and Sedat Ünal met in Tehran on Sun. to discuss ways for expansion of bilateral and regional cooperation.
During the meeting, Deputy Foreign Minister for Asia and Oceania Affairs, Ebrahim Rahimpour, and his Turkish counterpart Sedat Ünal, the representative of the guarantor state Turkey to Astana process, highlighted the need for closer cooperation in various political, economic, security and cultural fields.
The sides further discussed the holding of a joint economic commission’s meeting in Tehran in the near future, and called for an effective cooperation for combating terrorism and various kinds of trafficking, including human trafficking.
Iran, France stress expansion of ties in Rouhani’s 2nd term (Iran Daily – 23 May 2017)
ranian President Hassan Rouhani in a telephone conversation with his French counterpart Emmanuel Macron on Monday evening, highlighted the effective role of France on Iran and 5+1 nuclear negotiations which led to the signing and implementation of the JCPOA, adding “unfortunately, certain countries are showing a lack of commitment to the full implementation of Iran’s nuclear deal, and we expect France and the EU to play a more active part in ensuring the implementation of the agreement.”
President Rouhani stressed the need for removal of banking and financial obstacles hampering development of economic and trade ties between the two countries, adding that the Islamic Republic is fully committed to the nuclear deal.
He also voiced interest in joint cooperation with French investors in various fields including transport and infrastructure.
Iran is ready to cooperate with other countries including France at all levels for fighting terrorism and settling the Syrian crisis, he added.
“We need to restore peace and stability to the region, and we hope that Europe will not be tricked into believing the wrong interoperations about the region proposed by certain countries,” Rouhani said.
