Shell signs deal with Iran's National Petrochemical Company

After months of negotiations, Royal Dutch Shell finally signed a preliminary memorandum of understanding (MOU) with Iran’s National Petrochemical Company for projects in the petrochemical industry, according to a report by the Iranian oil ministry’s news agency SHANA. 

 

Mr. Hans Nijkamp, head of the department for Iran affairs at Royal Dutch Shell, announced the signing of the MOU, according to SHANA. Mr. Marzieh Shahdaei, Iran’s deputy oil minister and CEO of National Petrochemical Company, added that Iran is on its way to raise its petrochemical production  from the current level of 60 million tons to 160 million tons by 2025. 

 

The petrochemical projects of the two companies will be launched soon.