Dutch-British energy multinational Royal Dutch/Shell Group has concluded with the Iranian Pars Oil Company to launch a 51/49 joint venture for the production of industrial lubricants to supply the needs of local manufacturers, reported Iranian press.
The Pars-Shell venture is not the first cooperation between the two companies. Shell holds a 25 percent working interest in Pars since 1962. Pars is the only manufacturer currently producing a range of Shell branded marine lubricants in Iran. Shell has an exclusive agreement to supply the National Iranian Tanker Company (NITC) with marine lubricants for its entire fleet.
The Pars Oil Refinery, which is situated 19 kilometres west of Tehran, was first established in 1958. The refinery produces a range of products under the Pars brand, including engine and industrial oils, hydraulic and gear oils, anti-freeze, greases and waxes.
In 2001, Pars’ production of lubricating oils was 84 million liters, 10,000 metric tons of grease and four million liters of anti-freeze. The refinery was also awarded ISO 9002 certification. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
