Oil reservoirs in Pars Oil Company rise despite US sanctions

Oil&Gas Materials 6 May 2019 15:38 (UTC +04:00)

Tehran, Iran, May 6


Head of Instruments Engineering Department at Pars Oil Company Omid Tashakori discussed the company's exports in an interview with Trend.

"Most of company's products are exported in bulk, and the major part of the exports include base oil and RPO that are being sold in form of cargo on ships," he said.

"Pars Oil Company previously owned 4,000 reservoirs in Mahshahr Port and Bandar Abbas port, and their number increased to 7,000," he added. Referring to sales and transportation of the company's products via shipping under the sanctions, he said, "Naturally, we face problems due to the sanctions, and the ships have difficulty in loading products on our coasts. However, since we sell the products Free on Board (FOB), the customers have to address the ships problem."

He noted, " Our export products are mostly base oil, RPO and Finished oil. Recently, our new product "Flow Max" has been released as the company's export products and that has increased the finished oil sale."

In his words, the destinations for base oil are mostly India and China. The neighbor countries in Persian Gulf also have high purchases from the company. The Emirates and Iraq are the countries that purchase the most of our products," he added.

Speaking about the company's cooperation and sale with Azerbaijan, he noted, "We do not have routine connection with Azerbaijan, but we are cooperating in the field of finished oil."

Referring to foreign company's investments in Pars Oil Company, he said, "Royal Dutch Shell Company used to cooperate with Pars Oil Company six years ago, but it has left Iran due to sanctions and the Execution of Imam Khomeini's Order has bought their share."

Touching upon financial issues in relations with various countries, he said, "So far, some problems including the financial one, have not been solved yet."

Tashakori added, "The work is being done through barter, and some local banks also help us. We import equipment and materials that are needed by the refinery and receive products in return to export."

Pars Oil Company was established in 1958 with the aim of producing diverse lubricants. The company is a leading producer of various lubricants and its by-products. It is well-recognized in the lubricant industry throughout Iran, Middle East and Asia.