UANI

Everest Kanto Cylinder is an India-based international manufacturer of high-pressure gas cylinders, which are used to transport volatile gases for export. 

According to Forbes, India's Everest Kanto Cylinder (EKC) began supplying Iran with compressed natural gas cylinders in the 1990s, and in 2003 it built a manufacturing plant in Dubai to keep up with demand. In 2005, an industry publication reported that Everest Kanto planned to invest $20 million to construct another plant in Iran. In 2006, an investment advisory firm stated EKC estimated it held approximately 30% of Iran's cylinder market share, and 22% of the company's 2005 exports went to Iran.

According to a trade publication, EKC's subsidiary EKC Hungary Kft owns American company CP Industries Holdings, Inc. The company website states that CP Industries manufactures high-pressure seamless flasks for the U.S. Navy, which are used in critical shipboard systems

• Union Bank of India Ltd. was revealed to have facilitated a fund transfer of $100 million between Mangalore Refinery & Petrochemicals Ltd. and the National Iranian Oil Company. This fund transfer was a multi-step process coordinated with the Turkish bank Halkbank and was designed specifically to evade international sanctions.
• Has relationships with 'deficient' Iranian banks ("Iran's Dirty Banking", Avi Jorisch)

"State Bank of India will take suitable precautions to avoid possible U.S. sanctions due to any dealings with the blacklisted Hamburg-based European-Iranian Trade Bank AG, a senior Indian finance ministry official said Wednesday. The official didn't say what precautions SBI would take to avoid any potential U.S. action. 'We can look at making the temporary arrangement more permanent if it works out. An Indian delegation will be visiting Tehran soon to discuss the issue,' he said. The official was responding to concerns about a temporary channel just opened by New Delhi and Tehran for oil-related transactions for January crude. Under the arrangement, described Tuesday by another senior Indian official, Indian oil companies will open accounts with state-run SBI, which will in turn deposit the payments for Iranian crude with European-Iranian Trade Bank, or EIH Bank." (Wall Street Journal, "India Bank Seeks Way to Avoid Iran Sanctions," 1/6/11) 

--

According to the report, "Iran's Dirty Banking," by Avi Jorisch, the State Bank of India:

• Conducts business with designated Iranian banks
• Provides services to UN3 Iranian banks
• Provide ACUs to Iran
• Holds Iranian accounts
• Operating in Iran
• Conducts business with U.S. banks to service 'deficient' Iranian banks 

• Conducts business with U.S. that service designated Iranian banks 
• Provides services to UN3 Iranian banks 
• Provides ACUs to Iran 
• Holds Iranian accounts Operating in Iran 
• Service 'deficient' Iranian banks with U.S. banks  (Avi Jorisch, "Iran's Dirty Banking", 2010)

According to Business Standard, “The Company has three manufacturing facilities globally. It has its own sales offices in UAE, Thailand, Indonesia, Vietnam, Hong Kong, India, UK, USA and Singapore…Simmtronics supplies to the leading computer manufacturers and has a base of over 20 OEMs which include the top names in the IT industry like HP, IBM, LG, Samsung, Acer, PCS, Zenith, etc“ (About Simmtronics, Business Standard). 

---

The company website lists a sales office in Iran. (Company website)

---

Simmtronics has a global agreement with IBM, another semiconductor company that does business in Iran. (“Simmtronics Semiconductors enters into Global Agreement with IBM Corp,” Corporate Announcement, Business Standard, January 18, 2010.)

---

In June 2009, an article in India's Business Standard on Simmtronics detailed its involvement in Iran: “Simmtronics Semiconductors, one of the leading brands in memory module, motherboards and VGA cards business; ranked amidst Top 5 memory companies in the world and also ranked as No. 1 memory module company in Asia-Pacific besides a few other countries announced that it has recently conducted a mega channel activation program in Iran. Simmtronics has been successfully selling memory products in Iran for the past three years.

The channel activation program organized by Simmtronics in the capital city Tehran was well attended as over 200 channel partners from various cities of the country participated enthusiastically in it...

 “According to Mr. Indrajit Sabharwal, Managing Director, Simmtronics Semiconductors Limited, “This is in accordance with our strategy to expand and enhance our business presence globally. Iran is an important and promising market for us. We wish to increase our channel partner network in the country as there’s an immense potential for our products. Our strategy is to appoint channel partners in the unrepresented markets of Iran such that we leverage on the burgeoning demand that they have exhibited in the recent past. This initiative shall further boost our market share in the country.

Lately, as per the international trend, the demand for laptop memory has shown a decent traction in Iran in comparison to that for desktops. Simmtronics recognizes this as an important opportunity and is striving to tap the same through its dedicated channel network. Besides this, the replacement and upgrade market in Iran has also grown tremendously. Increase in adoption of heavier applications by businesses calls for higher memory which has fuelled replacement and upgrades to a new high. This business is as big as that of new purchase for Simmtronics in Iran.

Digital ME is Simmtronics’ Exclusive Partner in Iran for motherboards, VGA cards and memory modules. Simmtronics memory modules sales is Iran is being headed by Ms. Samira Keshmiri.  According to her, “This was for the very first time that a memory company in Iran conducted a channel activity. Therefore, the response was overwhelming. Channel partners in Iran look forward to such informative and business enhancing sessions. Simmtronics played the role of a responsible vendor who genuinely cares about its channel community and is not just another box-pusher with an eye on numbers only” (“Simmtronics headed to become No. 1 memory products company in Iran,” Corporate Announcement, Business Standard, July 8, 2009).

Bharat Petroleum Corporation Limited (BPCL) engages in the refining, storing and retailing of petroleum products, and is “one of India's largest PSU companies, with Global Fortune 500 rank of 287 (2008). Bharat Petroleum is considered to be a pioneer in Indian petroleum industry with various path-breaking initiatives such as Pure for Sure campaign, Petro card, Fleet card etc” (Business website).

--

As of April 2010, BPCL imports five thousand barrels of crude oil per day from Iran. (Reuters, "Iran’s Crude Oil Buyers in Europe, Asia," 4/18/10)

--

In 2007, BPCL completed a deal with an Iranian oil company: "Iran is set to further boost its rising crude oil exports to Asia, as OPEC's second-biggest producer is close to concluding its first term contract with Bharat Petroleum Corp Ltd (BPCL)." "National Iranian Oil Co (NIOC) is discussing a four-month deal with BPCL, the only Indian refiner so far not to lift term Iranian crude, as the Indian state firm looks to replace imports of costly Yemeni Masila crude, a BPCL official said on Tuesday" (Reuters, "BPCL nears first term crude deal with Iran," 8/29/07)

According to the company website, "HPCL, a fortune 500 company, is one of the major integrated oil refining and marketing companies in India. It is a Mega Public Sector Undertaking (PSU) with Navaratna status. HPCL accounts for about 20% of the market share and about 10% of the nation's refining capacity with two coastal refineries, one at Mumbai (West Coast) having a capacity of 6.5 Million Metric Tonnes Per Annum (MMTPA) and the other in Vishakapatnam (East Coast) with a capacity of 7.5 MMTPA. HPCL also holds an equity stake of 16.95% in Mangalore Refinery & Petrochemicals Limited (MRPL), a state-of-the-art refinery at Mangalore with a capacity of 9 MMTPA" (Company Website).

---

As of April 2010, HPCL imports 60 thousand barrels of crude oil per day from Iran. (Reuters, "Iran’s Crude Oil Buyers in Europe, Asia," April 18 2010)

---

News sources in New Delhi reported significant increases in HPCL’s trade with Iran in 2009: “State-owned Hindustan Petroleum Corp Ltd (HPCL) will triple crude oil import from Iran while reducing supplies from Iraq next fiscal.”

“HPCL plans to import 3 million tonnes of Iranian crude from National Iranian Oil Co (NIOC) on term contract in 2009-10 as against the current year import of one million tonnes, sources said” (The Financial Express, "HPCL to triple crude oil import from Iran,” Feb 07, 2009)

According to its website, "Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to oil retail. It has a global portfolio of onshore and offshore oil & gas blocks, with about 45,000 sq km available for exploration. Essar Oil has over 300,000 bpsd (barrels per stream-day) of crude refining capacity that is being expanded to 750,000 bpsd. There are over 1,300 Essar-branded oil retail outlets in various parts of India" (Company Website).

Essar Oil is part of the Essar Group, a “multinational conglomerate and a leading player in the sectors of Steel, Oil & Gas, Power, Communications, Shipping Ports & Logistics, Construction and Minerals. With operations in more than 20 countries across five continents, the group employs 60,000 people, with revenues of about USD 15 billion” (Company Website).

Essar’s 10.5 mtpa refinery in Vadinar, Gujarat “has the capability to produce petrol and diesel suitable for use in India as well as advanced international markets” (Company Website).

---

As of April 2010, Essar Oil imports 50 thousand barrels of crude oil per day from Iran. (Reuters, "Iran’s Crude Oil Buyers in Europe, Asia," April 18 2010)

---  

"So keen is the Essar Group to keep its plans for a $1.6 billion steel plant in Minnesota safe, that it has agreed to back away from a proposed oil refinery in Iran. In a letter to Minnesota Gov. Tim Pawlenty dated Oct. 31, Essar Group’s Americas president, Madhu Vuppuluri, said the company was exploring the possibility of building a refinery in Iran and bidding on exploration blocks, but would adhere to U.S. regulations limiting companies’ operations in the country." (Forbes, "Essar Backs Off On Iran," 11/1/2007)

--

Essar continued to develop its business in Iran as of 2006, as mentioned in an article listed under Essar media reports from that year: “Essar Global is also expanding its base in Qatar, Iran and Sharjah” (Business Standard, "Essar to raise $530 mn, pledges Hutch stake part," October 05, 2006).

---

Essar’s growing trade with Iran in the early 2000s was described in a media report found on the Essar company website: “The Essar group intends to increase import of crude from Iran and export of steel - produced by Essar Steel - to the West Asian country in a big way." "This is apart from the Indian industry's overall attempt to increase exports to Iran as the balance of trade is currently heavily tilted in its favour.” “The Chairman of the Essar Group, Mr Shashikant N. Ruia, told Business Line: ‘We will be exploring the possibility of increasing our trade with Iranian companies in general.’ Mr Ruia is a member of the high-powered trade delegation of the Federation of Indian Chambers of Commerce and Industry (FICCI) to Iran” (Business Line, "Essar to increase trade with Iran," April 08, 2001).

 Firm/country: Oil India Ltd. (OIL)/India;

Firm activity: Development of Farzad-B natural gas field in the Farsi block;

Status: Part of a consortium that is exploring the Farsi block and

that submitted a 2009 plan to develop the gas field over a 7- to 8- year period;

Commercial activity: 20% stake in the project, with an estimated total investment of $5 billion;

Firm comment: Contacted on February 18, 2010; no response as of March 22, 2010.

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

--

"The Indian government has asked its public sector oil firms to seek legal opinion on the impact of the latest round of US sanctions on Iran on their investment in the Persian Gulf nation, Oil Secretary S Sundareshan said here. The US administration had in May named Oil and Natural Gas Corporation, ONGC Videsh Ltd, Oil India Ltd, IndianOil, Hinduja Group and Petronet LNG among the 41 firms worldwide having energy ties with Iran, an act for which it may impose sanctions on them." (Economic Times, "Oil PSUs to seek legal opinion of impact of sanctions on Iran," July 22, 2010)

--

"We had last year mentioned about commercial gas discovery in an Exploration Service Contract for Farsi Off shore Block, Iran, where your Company has 20% PI as a member of the consortium led by OVL. Th e consortium is now in discussion with National Iranian Oil Company (NIOC) and Iran Off shore Oil Company (IOOC) on its development plan." (Company Website - Chairman's Address, 2010) 

--

"The Company has overseas presence in seven countries, Libya, Gabon, Nigeria, Yemen, East Timor, Iran and Sudan.  These blocks are part of one of the most prolific basins in Libya. In Iran , OIL has 20% PI in Farsi Block. Discovery of oil and gas in the block has been made, which is being evaluated for commercialization." (Company Website - Press Release, April 2009)

"India's biggest oil refiner said Thursday it did not expect any supply shortages because of a payments problem between India and Iran, but other refiners are making contingencies in case of disruption.

In December, India's central bank said payments to Iran -- India's second biggest supplier of crude -- could no longer be settled through a long-standing clearing house system because of sanctions. The abrupt move to block the Asian Clearing Union (ACU) mechanism, which was run by the central banks of India and other south Asian countries, left Indian oil companies without a way to pay for their supplies.

A temporary arrangement has been found using the State Bank of India and the European-Iranian Trade Bank, or EIH Bank, but both countries are seeking a long-term solution. Asked about possible problems, S.V. Narasimhan, the finance director of IndianOil, the largest refiner in India, said Thursday: 'We don't anticipate any disturbances.'" (AFP, "Indian oil giant optimistic over Iran supply," 1/6/11)

--

Firm/country: Indian Oil Corporation/India;

Firm activity: Development of Farzad-B natural gas field in the Farsi block;

Status: Part of consortium that is exploring the Farsi block and that submitted a 2009 plan to develop the gas field over a 7-to 8-year period;

Commercial activity: 40% stake in the project, with an estimated total investment of $5 billion;

Firm comment: Contacted on February 19, 2010; no response as of March 22, 2010

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

--

"Oil and Natural Gas Corp. Ltd’s (ONGC) overseas arm ONGC Videsh Ltd, or OVL, which won the bid in 2002, is the operator of the Farsi block with a 40% stake in the block. Indian Oil Corp. Ltd (IOC) and Oil India Ltd (OIL) have 40% and 20% stakes, respectively.  The consortium submitted a feasibility report to National Iranian Oil Co. (NIOC) in November 2008. NIOC then accepted the commercial viability of natural gas production at Farsi block." (Live Mint, "Eight years on, Farsi block development plan yet to be finalized," 4/21/2010)