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LyondellBasell

LyondellBasell

Industry: 
Chemicals, Energy
Symbol: 
NYSE:LYB
States: 
TX
Country: 
Netherlands
Sources: 

 

“German petrochemical company is taking measures to convey the technology to Iran while the sanctions on the Islamic Republic are still valid. The experts from the Basell Polyolefine GmbH have even traveled to Iran and visited some petrochemical projects in Asaluyeh, southern Iran, IRNA reported. The sides held several talks with Iranian petrochemical officials and plan to transfer the technology. The project is said to be worth $300 million... Basell Polyolefine GmbH produces and markets polyolefins in Germany. Its products are used to manufacture films, cable and pipe coatings, fuel tanks, injection moldings, and household articles. The company operates as a subsidiary of LyondellBasell Industries N.V.” (AzerNews, "German Firm Intends to Sell Iran Technology Despite Sanctions," 6/29/2015)

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“LyondellBasell Industries NV, one of the world's biggest plastic and chemical producers, will end its business operations in Iran to shield itself against penalties the U.S. could soon impose on companies for violating trade sanctions.” (The Wall Street Journal, “LyondellBasell Will Quit Iran,” 8/5/10)

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Firm/country: LyondelBasell/The Netherlands;

Firm activity: Supplying technology for new HDPE petrochemical plant in Kermanshah, increasing capacity by 300,000 metric tons per year;

Status: Expected completion 2009 to 2010;

Commercial activity: Not reported;

Firm comment: Confirmed activities. Noted that profits from the two projects are small compared to its European operations.

(GAO report 2010 - "Firms Reported in Open Sources as Having Commercial Activity in Iran’s Oil, Gas, and Petrochemical Sectors")

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"Lyondell Basell Company had previously participated in Amirkabir and Jam petrochemical complexes’ development plans. National Petrochemical Company’s Project Manager Jalil Ebrahimpour said for his part that the abovementioned petrochemical complexes are parts of the Dena ethylene pipeline, each with the annual projected HDPE output of 300,000." (Tehran Times, "World praises Iran’s petrochemical achievements: LyondellBasell exec," 6/10/2009) 

Response: 

“LyondellBasell Industries NV, one of the world's biggest plastic and chemical producers, will end its business operations in Iran to shield itself against penalties the U.S. could soon impose on companies for violating trade sanctions.” (The Wall Street Journal, “LyondellBasell Will Quit Iran,” 8/5/10)