Iran National Petchem Co, Shell study new petchem plant
LONDON, Nov 16, 1999 -(Dow Jones)- Iran 's National Petrochemical Company
has linked up with Shell Chemicals Ltd. and Elenac GmbH Kehl to conduct
a feasibility study for a new petrochemical complex in Iran , NPC said
in a statement Tuesday.
NPC said the new Olefin 8 Complex is likely to be built close to the
Bandar Imam Petrochemical complex and existing port facilities in the southwest
of Iran .
NPC said it is also studying the development of a polypropylene project
at Bandar Imam in parallel with the Olefin 8 Complex study. The polypropylene
study will be completed by mid 2000.
No details were given of the plants' potential capacities or investment
Shell signed a deal Sunday with the National Iranian Oil Company to
develop the offshore Soroush and Nowruz oil fields, located off Kharg Island
in the northern part of the Persian Gulf .
However, Shell won't be able to go ahead with the oil fields deal until
the U.S. government grants it a waiver from the Iran Libya Sanctions Act
to protect its U.S.-based Shell Oil Company.
Under ILSA, companies can't invest more than $20 million a year in those
countries without risking having their U.S. operations penalized by the
However, the U.S. government has said it may grant waivers from the
sanctions, making judgments on a case-by-case basis.
Shell Chemicals Ltd. is a unit of the Royal/Dutch Shell Group (RD).