Azerbaijan, Baku, Nov.26 / Trend F.Milad/
Oman is likely to refuse from participating in the construction of Iran's Hormoz petrochemical complex, the managing director of Iran's National Petrochemical Company Abdolhossein Bayat stated.
The reason is that the two sides have not reached the agreement on the feedstock price, Abdolhossein Bayat told Mehr news agency.
He emphasized that the reason was not the global sanctions on Iran's oil and gas industry.
Iran and Oman signed a memorandum of understanding in August, 2009 to jointly construct Hormoz urea and ammoniac production unit in Assalouyeh, southern Iran.
Iran set a two-month deadline in February for Oman Oil Company (OOC) to fulfill its obligations over the project.
The petrochemical unit is projected to annually produce about 1 million tons of ammoniac and 650,000 tons of urea.