Fanavaran Petrochemical Company Explained

Fanavaran Petrochemical Company
شرکت پتروشیمی فن‌آوران
Type:Public company
Traded As:TSE

PFAN1
ISIN: IRO1PFAN0001[1]

Industry:Petrochemical industry
Foundation:1998
Location:Mahshahr, Iran
Products:Methanol
Acetic acid
Carbon monoxide
Owner:51% Tamin Petroleum and Petrochemical Investment Company

Fanavaran Petrochemical Company (fa|شرکت پتروشیمی فن‌آوران|Sherkat-e Petroshimi-ye Fan-Avaran) is an Iranian petrochemical company in Bandar-e Emam Khomeyni, Khuzestan, which was established 1998.[2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12]

Overview

Established in 1998 in Khuzestan province on 25 hectares next to the Persian Gulf coast of the Bandar-e Emam Khomeyni Petrochemical Special Economic Zone, Fanavaran Petrochemical Company was founded by the National Petrochemical Company. On October 22, 2007, as part of the privatization policies, the National Petrochemical Company transferred the ownership and management of this company to the private sector. After that, the shares of Fanavaran Petrochemical under the name of "PFAN1" became tradable in the Tehran Stock Exchange for individuals and other companies.[13] [14]

Products and Exports

Methanol, acetic acid, and carbon monoxide are three products produced by Fanavaran Petrochemical Company. Part of these petrochemical products is sold as feed in the Petrochemical special economic zone of Bandar-e Emam Khomeyni to other petrochemical companies, such as Bandar Imam Petrochemical. Another part of its products, especially acetic acid, is exported to China, India, Iraq, Uzbekistan, Azerbaijan, Turkey, and Syria.[15] [16]

Sanctions

In 2022, the United States Treasury Department sanctioned Fanavaran, Kharg, and Marun petrochemical company in order to target the export of Iranian prochemical products.[17] [18] [19] [20] [21] [22] [23] [24] [25]

Notes and References

  1. Web site: InvestFunds.ru. Fanavaran Petrochemical, акция обыкновенная (IRO1PFAN0001, PFAN1). September 29, 2024. ru.
  2. Web site: iranoilgas.com. en. Fanavaran Petrochemical Co. (FNPC). September 29, 2024.
  3. Web site: Financial Tribune. en. Fanavaran Petrochem Company’s Profit Rises by 53 Percent. July 5, 2023. September 29, 2024.
  4. Web site: Financial Tribune. en. Feasibility Studies on Track for Fanavaran Petrochem Co. Percent. October 22, 2018. September 29, 2024.
  5. Web site: Trend News Agency. en. Sales of Iran's Fanavaran petrochemical company grow. September 7, 2024. September 29, 2024.
  6. Web site: Financial Times. en. Tehran makes slow progress in assets sale. February 11, 2008. September 29, 2024.
  7. Web site: Financial Tribune. en. Fanavaran Petrochemical Company to Complete Methanol Value Chain . October 11, 2022. September 29, 2024.
  8. Web site: Shana Petro Energy Information Network. en. Iran’s petrochemical chief woos foreign investors with $150b projects. September 5, 2023. September 29, 2024.
  9. Web site: Shana Petro Energy Information Network. en. Iran, Chinese consortium sign petrochemical MoU. September 5, 2023. September 29, 2024.
  10. Web site: Mehr News Agency. en. Iran, Chinese consortium sign petrochemical MoU. September 5, 2023. September 29, 2024.
  11. Web site: egyptoil-gas.com. en. Iran, China Sign MoU in Petrochemicals. September 5, 2023. September 29, 2024.
  12. Web site: IRNA. en. Iran makes German-monopolized catalyst. May 11, 2024. September 29, 2024.
  13. Web site: Tehran Times. en. Iran prioritizes 60 privatization-bound petrochemical companies. September 27, 2007. September 29, 2024.
  14. Web site: Fanavaran Petrochemical Company. en. About us. September 29, 2024.
  15. Web site: arena-petrogas.com. en. FANAVARAN PETROCHEMICAL. September 29, 2024.
  16. Web site: emis.com. en. Fanavaran Petrochemical Company Public Joint Stock (Iran). August 2, 2024. September 29, 2024.
  17. Web site: OFAC. en. Sanctions List Search. September 29, 2024.
  18. Web site: Open Sanctions. en. Fanavaran Petrochemical Company. September 29, 2024.
  19. Web site: LURSOFT. en. FANAVARAN PETROCHEMICAL COMPANY. September 29, 2024.
  20. Web site: U.S. Department of the Treasury. en. Treasury Targets International Sanctions Evasion Network Supporting Iranian Petrochemical Sales. June 16, 2022. September 29, 2024.
  21. Web site: TV7 Israel News. en. US sanctions Iran petrochemical network. June 20, 2022. September 29, 2024.
  22. Web site: Reuters. en. U.S. pressures Iran by targeting Chinese, UAE companies. June 17, 2022. September 29, 2024.
  23. Web site: The Indian Express. en. US pressures Iran by targeting Chinese, UAE companies. June 17, 2022. September 29, 2024.
  24. Web site: Arab News. en. US pressures Iran by targeting Chinese, UAE front companies. June 17, 2022. September 29, 2024.
  25. Web site: TradeWinds. en. US continues crackdown on Iranian petroleum exports with fresh round of sanctions. February 9, 2023. September 29, 2024.

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