News digest and analysis by Emad Honarparvar, CEO at Modiran Intelligent Solutions LTD
Insurance companies are back to Iranian cargoes
A senior Iranian insurance authority said all the exported petrochemical cargoes from Iran are securely covered by insurance service from int'l firms.
Mr. Hemmati, Governor of Central Insurance of Iran, said the majority of the sent out petrochemical shipments from the nation have the security and reimbursement insurance cover while others are secured by domestic companies.
He also underlined the positive joint effort of insurance agencies with petrochemical makers in the nation, including, "There are no problems in insuring petrochemical shipments from Iran and the current status of exports is acceptable in the sector."
"Iran's insurance industry figured out how to work out solutions to secure the country against the embargoes and could prevent many of their negative outcome" he added.
The result of such actions could be seen in latest Sanchi incident, which Iranian oil tanker with estimated $100 Million worth (the vessel and the cargo) crashed and lost totally in Chinese territory. It is supposed to be easier to trade Iranian Petrochemicals and Oil products for int'l companies with such efforts take in to consideration by Iranian officials.
Deal sign between Iran and UK
Iran's Pardis Petrochemical Complex has signed an agreement with UK based firm, KBR, a Supplier of technical licenses for ammonia units.
The deal is marked in the field of technical engineering services with the aim of promoting production technology at the Iranian facility, Pardis Petrochemical Plant's public relations said.
The agreement was signed on Saturday by Hossein Shahryari, the plant's managing director, and Jan Egil Braendeland, CEO of the KBR.
The understanding targets enhancing the wellbeing of units, enhancement of vitality utilization, decrease of erosion in the office and redesign of units.
Signing of the agreement comes after years of sanctions and cutting off of technical and engineering communications with Iran.
It is hoped that the deal will lead to development of the activities at Pardis Petrochemical Complex.
5% boost in Petrochemical products export from Iran
Iran's petrochemical sector is expected to yield 5% more export in the current Persian calendar year, a senior official says.
Speaking on Tuesday, Managing Director of the National Petrochemical Company Reza Norouz Zadeh said production of petrochemical firms has increased, adding, "We are moving towards realization of nameplate capacity of the sector."
Iran sees development of various sectors including the oil industry, thanks to availability of skilled Iranian labor.