The minister made the remarks in a meeting with visiting Nicaraguan Foreign Minister Denis Moncada on Monday, saying Iranian companies are prepared to help Nicaragua implement its refinery projects and provide the country with the necessary equipment.

Iran’s 13th administration is keen to develop relations with Nicaragua in all fields, underlined Oji, adding he had good talks with the country’s energy minister on supply of fuel and oil products and also exports of techno-engineering services during his recent visit to Managua.

Iran and Nicaragua have common views on the fight against injustice, said the oil minister, pointing out that the Islamic Revolution of Iran and the Nicaraguan Revolution took place almost simultaneously and are known as “Twin Revolutions”.

Tehran-Managua ties have increased since the 13th administration took office, Oji noted, calling for forming technical and specialized boards to put bilateral agreements into action.

Nicaragua’s foreign minister for his part deemed the Iranian oil officials’ visit to his country necessary to put the agreements into practice.

Moncada said he would report to the Nicaraguan president on Iran’s considerable expertise and willingness to cooperate with his country in refinery projects.

He described refinery projects as vital to Nicaragua and added, “We are eagerly waiting for holding the joint commission’s meeting and using the technical know-how of Iranian experts in our refinery projects.”

The official said: “This is the fourth visit I have paid to Iran over the past two and a half years,” adding that “Iran’s oil minister was briefed on Nicaragua’s oil industry and needs in the refinery sector during his visit and we hope the two sides will have good cooperation in this area.”

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Jalil Salari made the remarks in a ceremony for unveiling the document of the fundamental project of producing needle coke from residual fuel oils, which was held at the place of the Research Institute of Petroleum Industry (RIPI) on Tuesday.

The mentioned ceremony, which was held concurrent with the Government Week (starting on August 24), was participated by Azim Kalantari-Asal, the chairman of RIPI, Majid Rajabi, the managing director of Imam Khomeini Shazand Oil Refining Company, and a number of refining industry as well as RIPI director.

The plan for production of needle coke in Imam Khomeini Shazand Refinery is defined with the main goal of improving the quality of the refinery’s heavy products, producing the strategic product of needle coke, and improving the existing environmental conditions, using the local technical knowledge of the Research Institute of Petroleum Industry.

The sponge coke production plan is underway by Bandar Abbas Refinery, and Imam Khomeini Shazand Refinery is also entering the EPC (Engineering, Procurement and Construction) phase with the delivery of the basic design documents for the production of needle coke.

Addressing the mentioned ceremony, the NIORDC managing director emphasized: “Today, we have reached the technical knowledge in the area of product quality improvement, and in addition to being self-sufficient in this area, we can also enter the field of exporting technical-engineering services and technical knowledge.”

Needle coke is produced through two steps of delayed coking from petroleum residual oils and coal tar and calcination of the green coke in the kiln.

It is used as a primary material for electrode used in an electric steel furnace that melts and refines steel scrap.

Fortunately, with the efforts of domestic experts, today coke is produced in two grades, sponge and needle, inside the country, the NIRODC managing director further underlined.

Addressing the same ceremony, Azim Kalantari-Asal, the chairman of the Research Institute of Petroleum Industry, referred to the cooperation between this institute, Imam Khomeini Shazand Refinery, and the National Iranian Oil Refining and Distribution Company to develop technical knowledge in terms of the fuel oil chain, and said: “One of our bottlenecks in the development of the oil industry is the development of technical knowledge under the condition of providing financial resources.”

Saying that the daily production of fuel oil in the country’s refineries is equivalent to the daily production of 400 oil wells, which is a very significant number, Kalantari-Asal explained, “If we consider the cost of drilling 20 oil wells and putting them into operation to be about 200 million dollars, it is a huge figure for 400 oil wells, and saving this amount of money leads to the creation of added value in the downstream chain of the oil industry, as well as spending it on the research and development sectors will sustainably, in addition to creating added value, cause the development of the downstream sectors of the oil industry.”

Photo: NIORDC Managing Director Jalili Salari (2nd L), RIPI Chairman Azim Kalantari-Asal (1st R), and Imam Khomeini Shazand Oil Refining Company Managing Director Majid Rajabi (1st L)

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An industry source said that petrochemicals shipment had accounted for $12 billion or 27% of Iran’s total exports in the 10 months to late January.

Hamid Hosseini, a senior member of Iran’s Oil, Gas and Petrochemical Products Exporters Union (OPEX), said oil products exports from Iran had reached $13 billion between March 2022 and January this year.

Hosseini said that Iran had earned some $4.9 billion from exports of 6.6 million metric tons (mt) of liquefied petroleum gas (LPG) in the nine months to late December, an increase of 120% compared to the same previous period.

He said exports of methanol from Iran had reached $1.8 billion for 6.8 million mt of shipments in the nine months to late December.

The businessman added that Iran had exported 1.6 million mt of urea worth $975 million in the nine calendar months to the end of 2022, adding that exports of polymers also increased by 77% over the same period.

A y report by the official IRNA news agency said that Iran had earned some $1 billion from exports of bitumen over the 10 months to late January.

The figures come amid Iran’s continued efforts to increase its exports of petroleum products and petrochemicals as a solution to avoid foreign sanctions affecting its direct crude oil exports.

Experts say the policy has strengthened Iran’s non-oil exports and led to the creation of tens of thousands of new jobs in the country.

Reacting to a report that the U.S. is working to zero Iraq’s dependence on Iran’s gas and electricity, Hosseini said that it is impossible because Iraq’s condition is in a way that they cannot cut their dependence on Iran’s gas and electricity and pointed to the reasons for this dependence.

He added that with development of industries and consumption in Iraq, this country will continue to buy Iran’s gas and electricity because Iraq is unable to import all of its needs via its ports, Saudi Aabia, Kuwait or Turkey and it needs at least to import 20m to 25m tons of its needs either transit from Iran or buying Iranian goods and energy.

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TEHRAN (Iran News) – Two new oil products, namely propylene and normal hexane, are going to be offered at the Iran Energy Exchange (IRENEX) for the first time next week, said the managing director of IRENEX.

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Chief Executive of the National Iranian Oil Products Distribution Company (NIOPDC) Alireza Sadeghabadi said that gasoline import into the country in the first three months of the current year (March 21-June 21) experienced a considerable 36 percent decline as compared to the same period of last year.

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