Rahbord Energy: Taghi Sanei, the CEO of Nouri Petrochemicals, said the company had record-breaking financial statements in 2023-2024. He made the comments on the sidelines of the company’s annual general assembly in Asaluyeh. He said the company has registered good figures in the field of production and sales, and it did its best to achieve what was within the company’s budget.
Pointing out that many follow-ups were done to increase the company’s profit, Sanei said the price of feedstock is usually 93% of the finished price of the product, and a lot of effort was made to rationalize the price of feedstock. According to Sanei, this brought an acceptable profit for Nouri Petrochemical.
The vice chairman of the Nouri Petrochemical Board of Directors also said the company had systems in all fields of the petrochemical industry and tried to make all processes more accurate and qualitative. He said the company had all indicators under constant monitoring, and whenever they were in a weak state, immediate action was taken to fix them.
He said that as a result of these efforts and follow-ups, it was possible to increase many of the company’s records. The company was able to achieve good positions in various international and national evaluations, and that’s due to the efforts of all its colleagues in the company, members of the board of directors, and a regular and systematic program for managers to monitor the indicators.
Sanei also referred to the zero-flaring project and the diversification of the company’s stock portfolio by purchasing the shares of Hormuz, Hemgan, and Arvand petrochemical companies. He said the choice of this approach was intelligent and conscious. That’s because the zero-flaring project is a biological project. According to him, it is an environmental and economic project that has a return on investment of 2.5 years. It converts what is called a flare into LPG, ammonium sulfate fertilizer, and methane gas, so it is a good project both from the point of view of income and from the point of view of the environment. It prevents the release of 550 thousand tons of CO2 and some SO2 into the environment.
He also referred to the strategy of the president-elect and the 14th government with regards to the petrochemical industry, especially in the field of export, and said there are laws that grant a series of privileges, such as tax exemptions, to factories that want to be built in special areas. According to him, in the last few years, none of these laws were implemented, and that’s why they have suffered a lot of losses, especially in the export sector.
With regards to the export strategy of his company, he said the company exported more than 35% of its products last year, which decreased due to the country’s need for diesel and octane boosters. That’s because the company had to allocate a portion of its exports to domestic consumption. He said the Euro 6 diesel will be exported if there’s no domestic need.
Regarding the latest status of the claim filed by the petrochemical Trading company (PCC), he said it had two legal cases with the Petrochemical Trading Company. In the case of the demand for 65 million dollars, the company has taken all the necessary measures, including referring to the arbitration chamber, obtaining the judge’s decision, obtaining the appeal decision, and obtaining the executive decision. The company has seized all the property, but according to a ruling by the judiciary, the National Iranian Petrochemical Industries Company (NIPC) was prioritized. Therefore, after this process, the judge of the other branch in this case has ruled completely against Nouri Petrochemical. He said the company is now following up on the case. In the 85 million euro case, both the preliminary judge and the appellate judge ruled in Nouri’s favor, and it will be followed up until the desired result is obtained.
With regard to the implementation of the 7-7 plan for the company’s employees, he said it has been implemented so far for a number of personnel and will be implemented for all personnel by the end of the year.
Source: Nouri Petrochemical Department of Public & International Affairs
