BAKU, Azerbaijan, Dec. 24
By Elnur Baghishov - Trend:
Sales of Iran’s Iranol Company amounted to about 22 trillion rials (about $523 million) in the nine months (March 21-Dec. 21) of this Iranian year (began March 21, 2019), Managing Director of Iranol Company Isa Eshagi said, Trend reports referring to the company’s website.
Eshagi noted that sales in this volume were more than last Iranian year (March 21, 201- March 21, 2019).
The managing director added that during the past six years, the company has renewed its records on the decrease in production, sales, motor oil exports and increase in revenues.
“The company’s sales of more than 140,000 tons of base oil in 2014 decreased to 30,000 tons last year, and the final product sales increased from 110,000 tons to 170,000 tons,” Eshagi said.
This resulted in an 11 percent increase in the company’s revenues, the managing director noted.
Eshaqi added that there is great demand in the Iranian market for new products of Iranol Company and for this purpose, several new products will be released soon.
Iranol Company was formed in 2003, owned by private shareholders, with two lube oil refineries in Tehran and Abadan cities, being originally part of Tehran and Abadan Oil Refineries of the National Iranian Oil Company (NIOC).
Abadan lube oil plant commissioned in 1954 was the first lube oil plant in Iran. Tehran Lube Oil plant started operation in 1974. This plant has been designed to produce both engine and industrial lubricants.