The agreement was signed by NPC managing director Reza Norouzzadeh and CPCIF chairman Li Shousheng in Tehran late on Monday and reported by local media on Tuesday.
Director of the NPC Investment Directorate Hossein Alimorad was quoted as saying the deal stems from a 2015 agreement on enhancing bilateral relations, and is part of the two countries’ attempts to pursue greater ties in the petrochemicals sector.
Development of this sector is a major focus for Iran’s expanding post-sanctions economy, and the government is ramping up investment at three major petrochemicals hubs.
For more on Iran’s plans for petrochemicals hubs, read TOGY’s newly-published interview with Reza Norouzzadeh here.
TotalEnergies and ConocoPhillips have reached first oil production at the North Sea's USD 1 Read More
Equinor has acquired a 45% stake in two lithium project companies in the USA from Standard Lithium, the Norwegian energy… Read More
Seadrill has been awarded two drillship contracts in South Korea and the US Gulf of Mexico worth a total value… Read More
The World Bank has granted Namibia a $138 Read More
PetroVietnam exploration arm PVEP has announced two oil finds with combined initial reserves of 100 Read More
Air Products’s LNG liquefaction equipment deployed on Coral Sul FLNG in Mozambique has successfully passed its performance test, Air Products… Read More
This website uses cookies.