Negotiations with companies from Germany, Netherland and Italy have commenced for participating in petrochemical projects, the deputy of Iran’s Oil ministry said. He mentioned that after the recent nuclear negotiations and the higher possibility of lifting sanctions, many foreign companies have contacted for mutual partnership in new petrochemical projects. He declared that some of them have even Americans partners. He also added that there is no restriction for US companies to invest in petrochemical industries. These companies have assured to start their partnership with Iran’ petrochemical industries if the sanctions are lifted. Besides having cheap resources of natural oil and gas, Iran has the privilege of having educated and young human resources. Furthermore, having more than 2000 km maritime border in Persian Gulf and Oman Sea is another advantage for polymer and petrochemical industries in Iran.
The news over transferring the shares of Hormozgan Steel Co. to Golgohar & Chadormalu Mining and Industrial Companies is denied. Rumor has it that Mobarakeh Steel Co. is planning to pay back its 4000 IRR mn debt to mentioned companies by transferring 20 percent of its Hormozgan stake. However, Golgohar financial director by rejecting this news announced that Golgohar is facing low liquidity problems and prefers to settle its credit by cash. The CEO of the Chadormalu also clarified that the company doesn’t need any new manufactories in this critical financial crisis.
Tamin Pharmaceutical Investment Co. released its first financial budget for FY2015 ending 21 May 2016. The company forecasted 1,091 IRR return per share which has increased by 13% compared with FY2014. The company predicted more dividend yield from its investee companies; hence, the company’s operating income increased by 14%.
Yazd Alloy Steel Industries Co. made 523 IRR return per share for FY2014 (ending 21 Mar 2015). The company’s net income decreased by 39% compared with year before. The company’s sale increased by 60 percent, while its total cost decreased by 7% . The company’s financial costs jump by 100% compared with last year.
Isfahan Oil Refinery (shepna) Co. and Bandar Abbas Oil Refinery Co. (shebandar) released their latest financial reports. Shebandar announced its forecasted EPS for FY2014 and FY2015 respectively 520 and 200IRR. In this report the oil and gas condensate prices are considered respectively 67 and 54 Us Dollars. Shepna forecasted 871 IRR for its FY2015 EPS, while 636 IRR was predicted for its FY2014 EPS. All the considered rates and prices are based on the National Iranian Oil Refining & Distribution Co. ‘s list prices.
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During the last week trading sessions, the index was following the same trend: Starting an upward trend and by reaching the positive percentages the sales pressure increased and by getting back to lower prices the volume of trades dropped. This show there is no willingness to sale on bearish trend and the market is waiting for news to start buying. The new round of nuclear negotiations between Iran and 1+5 world powers will start today in Vienna . The market is in the uncertainty and waiting period.
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