Farhad Amin Dehghan, the CEO of Sepahan Oil Company, has said it has implemented 100% of its foreign exchange obligations. He further said the company is now making moves for more transparency. Furthermore, according to Dehghan, the company is trying to provide the government with currency obtained from the sale of its products. He said the government now needs to support the company in increasing its exports in order to bring more foreign currency into the country.
The CEO of Sepahan Oil also noted that the company receives no preferential currency for its lube-cut products. He called for a review of the price of lube base oil, and considering that the price of its components has changed, there needs to be an increase in its price. According to him, that makes the issue of the imposition of duties a meaningless move.
With regards to the production of green oil compatible with the environment and hybrid and electric cars in this company, he said two research projects are under consideration that were initiated by the scientific and technological department of presidential office The company is now working on the second project with a research group in Isfahan. He noted that the necessary know-how has been created in the company, but due to the low volume of production, it’s not economical to produce it on a large scale.
With regards to the export of green engine oils and the diversification of its export market, he said the company has sent batches to African countries where the company was previously not present. It has also sent a batch of its products to Venezuela. According to Dehghan, though the volume sent to Veenezuela was not large, it was quickly absorbed in the market. He further said there have been problems, such as the long distance and the three-month shipping time to Venezuela, but the market there is flexible and profitable, and the company is looking to increase export parts to the country and find reliable partners in this country.
He also noted that the company has sent to export batches to Armenia, but that was stopped due to the political problems of this country. However, it is trying to develop its market in Armenia.
He also said the issue of the export of industrial and automotive lubricants is difficult because the company needs to compete with very famous global brands. Therefore, the company is trying to be able to export as much of its final products as possible to foreign markets.
Source: Sepahan Oil Department of Public & International Affairs
