Seyyd Jafar Hashemi, CEO of Parsian Oil and Gas Development Group, has said that the company has been able to make nearly 30% net profit in the fiscal year ending in September 2024. This has been achieved through the efforts of the staff in the subsidiaries and the headquarters of Parsian Oil and Gas Holding. This is a good achievement compared to the performance of previous years.
Regarding the 9.7 hundred billion toman loss of Parsian Oil and Gas Holding, he said that this amount was actually the loss of profit in the year 2023-2024 sales of the group’s subsidiaries due to lack of feedstock. This is due to the gas imbalance and the decrease in feed compared to previous years.
Regarding the timing of the inauguration of development projects, he said numerous development and value chain completion projects are being implemented in the petrochemical and refining companies of the group. In Kermanshah Petrochemical, its Phase 2 will be put into operation and launched in 2025. In Shiraz Petrochemical, the company has started studies to build an ammonium nitrate project and is negotiating with the final consumer organization of this product to make a joint investment. The company is also carrying out a crystal melamine project with joint ownership of the urea-producing companies of the group in a specific location so that its shares can be divided among all the urea-producing companies of the group, and we do not have to worry about financing it in the future.
Regarding the impact of launching development projects on Parsian’s portfolio, Hashemi said these projects have separate feasibility studies and different Internal rate of return (IRR), and each project must be calculated individually.
Regarding the holding’s strategy to diversify its export market, he said since its main product is urea, which is produced in three urea subsidiaries, it is studying whether centralized trading has more added value. But according to him, export markets have certain risks, and the company needs to be careful in this regard. Therefore, in addition to implementing the aforementioned plan, the company has strengthened the urea-ammonia working group in a specialized manner so that it can obtain higher added value by studying different target markets.
Regarding the shares of companies that will be awarded to the group, he said the specific company shares have not yet been determined, but the company is reviewing the transferable assets with Iranian Privatization Organization to take them from that location and the list of assets.
