According to the KPS website, Cormay is a contracting company for the sanctioned Iranian entity, Kima Pakhsh Shargh (“KPS”).
"PZ Cormay S.A. finished cooperation with Kim Pakhsh Shargh in 2015." (5/9/2019)
The National Iranian Drilling Company, a subsidiary of the National Iranian Oil Company, has signed a memorandum of understanding with the Polish EXALO Drilling SA to cooperate in oil and gas development projects. (May 10, 2018).
"PKO Bank of Poland is the first Polish bank technically ready to make financial settlements with Iranian banks. The PKO offer for exporters conducting trade with Iran allows them to significantly reduce the risk of their business. The Bank has consistently implemented a strategy of supporting Polish companies that are expanding their foreign expansion." (February 14, 2019).
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According to Bank Polski’s website “he Bank is working with correspondent banks in every major region of the world, and was also the first Polish bank ready to settle with Iran after the abolition of some of the sanctions imposed on the country. Recently, PKO Bank Polski has strengthened its potential for mutual settlements in the Gulf Region.”
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In January 2017, the Reserve Bank of India (“RBI”), based on information obtained from the Indian Embassy in Tehran, named PKO Bank Polski (“Bank Polski”) as one of a number of international banks with correspondent banking relationships with Iranian banks. (RBI Website, “FAQs [Names of International banks which have entered into a correspondent banking relationship with Iranian banks],” 1/19/2017).
Tuatara was listed as an exhibitor at the Iran Telecom Innovations Conference (the “Conference”) that took place from September 25-28, 2016, in Tehran, Iran. (Iran Telecom Innovations Website, “Exhibitor List”).
"According to a report by IFP, the International Renewable Energies Conference will be held on December 6-8 with the support of Iranian Vice-Presidency for Science and Technology. More than 70 European and Asian reputable firms in the fields of wind, solar, geothermal and biomass energies will partake in this conference. These companies are from such countries as Germany, Denmark, England, France, Italy, Spain, Austria, China, and Norway. Given the presence of such leading firms as Vestas, nVision, Huawei, Goldwind, Lahmayer, Turboden and FaroWind, as well as reputable global investment companies, this conference will use the opportunity to show Iran’s domestic capacities to foreign firms and investors." (Iran Front Page, "70 European and Asian Frims to Attend Iran's Renewable Energies Conference," 12/6/2016).
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FaroWind was an exhibitor at IranRECC. The Iran Renewable Energy Commercial Conference (“IranRECC”) took place between December 5-8, 2016 in Tehran. (IranRECC Website, “Exhibitors”).
"Poland’s Ciech Group, one of the leaders on the European chemical industry, has halted trade with Iran after the country’s top diplomat called on the EU to show “great empathy” towards US motives in reimposing sanctions on Tehran." (5/29/2018).
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In May 2017, Ciech revealed that “[i]n Q1 2017, Ciech Sarzyna received registration of a new product in Poland (Chwastox Complex) and registration of the existing plant protection chemicals in Iran, Azerbaijan, and Spain.” (Ciech Group, “Ciech Group: Solid financial results in Q1 2017,” 17/05/2017).
In January 2017, Ciech CEO Tomaz Grzela said that his Ciech was “interested in investments in Iran in bunkering and transporting LNG, LPG and petrochemicals.” (Central European Financial Observer, “Poland plans to expand cooperation with Iranian companies in maritime transport,” 1/24/2017).
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A November 2016 article also stated, “National Iranian Tanker Company (NITC) and Polish company Ciech Trading SA, a subsidiary of Ciech SA are willing to sign an agreement aimed at transporting Iranian crude, LNG and petrochemicals as well as bunker of ships.” (Poland at Sea, “Poland ready to cooperate with Iran in marine transportation,” 10/04/2017
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"Iran and Poland held negotiations in Tehran over launching a joint shipping line for transport of crude oil, petrochemical products as well as liquefied gas. A fresh round of talks was conducted in Tehran between National Iranian Tanker Company (NITC) and Poland’s Ciech Trading S.A. to establish a joint company to transport petrochemicals and liquefied gas in addition to development of bunkering industry. Tomasz Grzela, Managing Director of Ciech Trading S.A., said at the meeting that his company eyes expansion of ties with NITC in the post-JCPOA era; “accordingly, we are eager to begin joint investment in a wide variety of fields like bunkering as well as carrying of petrochemical products and liquefied natural gas (LNG).” The Polish official asserted that a joint firm will be formed by NITC and Ciech Trading S.A. in order to bolster relations." (Mehr News Agency, "Iran, Poland to establish joint shipping line," 11/22/2016).
"The company reported as potentially signing an MOU to work on the Lavan Island and Soumar oilfields. In 2018 CalPERS designated the company as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act."
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"PGNiG has an MOU with NIOC to work on the Lavan Island and Soumar oilfields. CalSTRS has initiated the review process multiple times since 2012 but liquidated the security before completing the engagement. In 2015, CalSTRS designated PGNiG as “Being Monitored.” In 2020, CalSTRS removed PGNiG after further review of the company’s internal controls to prevent sanction violations and because it no longer held any of the company’s securities."
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In 2018 CalPERS designated PGNIG as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the activities targeted by the Act. CalPERS will continue to assess and/or monitor the company for possible changes in status relevant to the Act.
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CalSTRS has initiated the review process multiple times since 2012 but liquidated the security before completing the engagement. In 2015, CalSTRS designated PGNiG as “Being Monitored” and maintained that designation in 2019.
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As of August 15, 2019, the state of Iowa removed listed PGNiG from its Iran scrutinized companies list.
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PGNiG is listed in the March 1, 2019, Report to the New Jersey Legislature Iran Divestment Act.
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According to its website, "In connection with media speculation, PGNiG informs that it ceased its activities in the Soumar field in the Islamic Republic of Iran at the end of October 2018, due to the risks arising from reintroducing by the USA sanctions for activity in the Iranian energy sector which took place on November 4, 2018.
The company informed about such an intention in May 2018 – just like many other energy companies at that time. It is necessary to deny any media speculation suggesting that the ending of the Soumar field activity has occurred as a result of the demands of the Iranian side."
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PGNiG has an MOU with NIOC to work on the Lavan Island and Soumar oilfields. CalSTRS has initiated the review process multiple times since 2012 but liquidated the security before completing the engagement. In 2015, CalSTRS designated PGNiG as “Being Monitored” and maintained that designation in 2018.
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"Poland’s dominant gas firm PGNiG has suspended a gas project in Iran because of the risk from U.S. sanctions, the company’s deputy chief executive said. “There is not much we can do about the contract in Iran. Any moment the sanctions will be put in place and nobody wants to take a risk,” Maciej Wozniak of the state-run PGNiG told Reuters. “We can take risks when we are drilling and looking for hydrocarbons, but we will not take risks playing politics,” he said, adding the project consisted of providing technical expertise in gas extraction in Iran." (5/18/2018)
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In line with plans to develop Iran’s oil and gas fields, high-ranking officials of Poland’s state-run gas company PGNiG are expected to meet the National Iranian South Oil Company in February to finalize their ongoing negotiations to increase the recovery rate in the oilfields of Khuzestan Province, NISOC managing director said on Wednesday. “PGNiG is willing to invest in Iran’s oil and gas upstream sector and talks are underway to assign the development of an unnamed field to the company,” Bijan Alipour was also quoted as saying by Mehr News Agency. (January 12, 2017).
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In 2018 the U.S. state of Iowa listed PGNiG as an Iran restricted company rendering PGNiG ineligible for investment and/or state contracting.
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In 2017 the U.S. state of Rhode Island and South Carolina listed PGNiG as an Iran restricted company rendering PGNiG ineligible for investment and/or state contracting.
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In 2016 and 2017 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. PGNIG was included on this list in 2016 and 2017. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."
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"Poland's dominant gas firm PGNiG and the National Iranian Oil Company (NIOC) have signed a letter of intent regarding co-operation on exploring the Soumar oil deposit in Iran, PGNiG said in a statement on Monday." (Reuters, "Poland's PGNiG and Iran set to jointly explore Soumar oil deposit," 11/7/2016).
"But not only medium-sized companies are likely to be affected by the sanctions imposed by the US. Polish oil giants PKN Orlen and Lotos import Iranian oil. The country was supposed to be an important direction to diversify company resources. According to recent reports, Orlen was buying oil in single orders, but the company also planned to sign a long-term agreement. Neither Orlen nor Lotos has commented the sanctions directly yet." (Poland In, "Polish companies endangered by US sanctions on Iran," 8/10/2018)
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"Poland's second-biggest oil refiner Lotos is interested in securing a long-term supply deal with Iran once it completes a new coking unit at its Gdansk refinery next year, its chief executive said. State-run Lotos wants to diversify its imports of oil and gas away from Russia, its largest supplier. It signed an agreement last year with National Iranian Oil Company and the first tankers carrying 2 million barrels of Iranian oil arrived in Poland in mid-August. It is now in talks to receive another 2 million barrels.... Lotos could potentially agree a long-term contract with Iran after it finishes construction of the 2.3-billion zloty ($570 million) coking unit at its Gdansk refinery in 2018, he said." (Reuters, "Polish Refiner Lotos Aims for Long-Term Oil Supply Deal with Iran," 2/12/2017).
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"A delegation, comprising senior officials of Poland’s largest oil company, is scheduled to visit Tehran in coming days aiming to ink a contract for developmental of Iranian oilfields. Poland has begun new cooperation with Iran in the post-JCPOA era over development of oil trade as well as collaborations for investment in upstream sector of Iranian oil and gas industry. So far, National Iranian Oil Company (NIOC) has signed spot contracts for crude sales to Lotos S.A. and PKN Orlen while negotiations have also begun with another Polish oil giant for investment in Iranian oil and gas industry." (Mehr News Agency, "Largest Polish Oil Company En Route to Tehran," 1/11/2017).
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"Iran continues its quest for new crude buyers, especially in Europe, but its loyal customer base will continue to hinge on countries like India and China, whose demand for Iranian crude has observed a steady rise this year. Iran has found interest for its crude in some unusual places in the past few months as it continues it diversify its list of buyers. Earlier this month it agreed to sell 1 million barrels of crude oil to Hungary via Croatia as it seeks to widen its post-sanctions customer base, which now includes cargoes sold to oil major BP, France's Total, Greece's Hellenic Petroleum, Spain's Repsol and Cepsa, Russia's Lukoil, Poland's Grupa Lotos, Portugal's Petrogal and Italy's Saras and Iplom. Iran said it has held talks with Bosnia and Herzegovina this week as it hopes to expand its list of crude oil export destinations. However, its shipments to Asia remain the pillar of its export market." (Platts, "Analysis: Iran eyes new crude oil buyers, Asia remains linchpin," 11/1/2016).
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"An NIOC official has announced that Iran has sold a two-million-barrel cargo of crude oil to Lotos S.A. of Poland. Executive Director for International Affairs at National Iranian Oil Company (NIOC) Seyyed Mohsen Ghamsari pointed to negotiations between NIOC and Grupa Lotos S.A. over inking a long-term oil sale contract saying “talks have kicked off with the Polish company though no final agreement has been signed yet.” The official emphasized that so far two million barrels of crude oil have been delivered to Lotos; “both sides are seeking to seal a long term oil deal.” He deemed Eastern Europe as a new market for Iranian crude in the post-JCPOA era adding “in addition to Poland, Iran has so far sold a one-million-barrel cargo to Hungary as well as that relevant negotiation have begun with other states in Eastern Europe.” (Mehr News, "Largest Polish refinery buys Iran's oil," 10/9/2016)
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Polish refiner Lotos could sign a long-term oil deal with Iran after receiving its first supplies from Iran last month, the deputy head of Lotos said on Thursday. Two tankers carrying 2 million barrels of oil from Iran arrived at the port of Gdansk on the Baltic Sea in mid-August.(Reuters, "Poland's Lotos may sign long-term oil supply deal with Iran," 9/8/2016).
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"Poland's second biggest refiner Lotos said on Friday that it expects oil supplies from Iran to arrive in Gdansk port at the Baltic Sea on August 14. The state-run Lotos said that the tanker Atlantas with 2 million oil barrels has reached the Danish straits and due to draft limits it has to transfer around 700,000 of barrels on a smaller vessel before it enters the Baltic Sea. The supplies are a result of an agreement signed earlier this year between Lotos and National Iranian Oil Company. The cargo is the first Iranian crude sold into this part of the Baltic Sea market since January's lifting of sanctions. In June trade sources said and ship-tracking data showed that the supertanker with Iranian crude is heading towards Gdansk." (Reuters, "Polan's Lotos expects Iran's oil to arrive in Gdansk on Aug 14," 8/12/2016).
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"Poland's Grupa Lotos has bought 2 million barrels of crude from Iran in a one-off purchase, an Iranian oil official was quoted as saying on Saturday by the oil ministry's news agency SHANA. Mohsen Ghamsari, the director for international affairs at National Iranian Oil Company (NIOC), said the cargo was loaded at Iran's Kharg Island last week. 'Signing a long term contract would depend on the two countries' situation,' he added. Reuters reported on Thursday that a supertanker with Iranian crude was heading toward Poland's Baltic Sea port of Gdansk as Iran continues to claw back market share after the lifting of Western sanctions." (Reuters, "Iran says has sold Poland 2 million barrels of crude oil," 7/2/2016)
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“The chief executive of Poland's No.2 oil refiner Lotos said on Monday he was interested in refining Saudi and Iranian oil as part of efforts to diversify away from Russian crude. ‘We are interested in refining any oil, including Saudi and Iranian oil,’ CEO Pawel Olechnowicz told reporters. ‘Diversification allows for greater safety of the company.’ Last week, the head of Russia's biggest oil company Rosneft said that Saudi Arabia had started supplying crude oil to Poland, a market traditionally dominated by Russia.” (Reuters, “Polish Lotos CEO says interested with Saudi, Iranian oil,” 10/19/2015)
"Ten senior managers of the largest Polish mineral holding are in Tehran to talks with Iranian mineral and industrial officials. The holding dubbed KGHM is one of the largest producers of copper and silver in the world. The mining & metallurgy company is based in Poland in Lubin. KGHM Polska Miedz S.A. owns shares in 33 entities, operating in various production and service-related areas... The holding senior managers have been invited by Iranian Minister of Industry, Mine and Trade Mohammad-Reza Nemat-Zadeh and will stay in Tehran until Tuesday." (ISNA, "Senior managers of European mineral holding in Iran," 10/18/15)
"Poland sent a high-level delegation including pharmaceutical, chemical and railway executives to Iran on Friday, joining a string of Western states hoping to exploit opportunities opened by Tehran's nuclear agreement with world powers. Economy Minister Janusz Piechocinski was heading a group with representatives of some 60 Polish businesses, including railway manufacturers Newag and Pesa." (Reuters, "Poland joins flock seeking business in Iran after nuclear deal," 9/25/15)
Eye on Iran is a news summary from United Against Nuclear Iran (UANI), a section 501(c)(3) organization. Eye on Iran is available to subscribers on a daily basis or weekly basis.