UANI

"South Korean trader E1 Corp has bought 44,000 mt of LPG from Iran's Petrochemical Commercial Co., possibly the first spot cargo from the Middle Eastern producer to come to Asia this year, after an EU ban on propane and butane trade from Iran brought its exports to a near halt since late last year, market sources said last Friday. The cargo comprising 33,000 mt of refrigerated propane and 11,000 mt butane was purchased via a spot tender by E1 for loading over May 15-25, and will be shipped by PCC on a CFR basis, a source familiar with the matter told Platts... Traders said that this is the first tender issued and awarded by PCC since September last year, which was heard to have also been won by E1... 'I gather Iranian tons reappearing on the market seems to have been the catalyst to Eastern selling,' one market source said, adding that E1 featured as sellers of Contract Price swaps over the last last few days." (Platts, "Iran LPG cargo may be first to come to Asia this year after EU ban - sources," 3/12/13) 

"In addition, the Treasury identified four entities - Petro Suisse Intertrade, Hong Kong Intertrade, Noor Energy and Petro Energy Intertrade - as front companies used to enable evade sanctions on its oil exports." (BBC, "US tightens sanctions over Iran nuclear programme," 7/12/2013)

"Pakistan’s state-owned Inter-State Gas Systems and Tadbir Energy Costar Iranian Co. on Friday signed a contract to lay the gas pipeline in Pakistan. They announced work would start immediately and that the Pakistan portion of the pipeline would be completed in 15 months, though analysts believe that’s optimistic." (The Wall Street Journal, "Iran-Pakistan Pipeline Deal Irks U.S.," 2/20/2013)

Samsung Total is a joint-venture between Samsung Group and Total SA.

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"Refiners in South Korea, the fourth biggest buyer of Iranian crude, need to make further cuts to offset new purchases of Iranian oil from Samsung Total Petrochemicals, the official said. The South Korean joint venture revived the contract with Iran after a year's hiatus, as thin margins in plastics make the cheap crude from Iran hard to resist." (Reuters, "US seeks to sanction firms disguising Iranian oil shipments," 1/31/2013)

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"Samsung Total Petrochemicals, a joint venture between South Korea's Samsung Group and French energy giant Total, bought Iranian condensate because thin profit margins in plastics production make inexpensive fuel from the Islamic Republic hard to resist, people familiar with the deal said last week... Samsung Total has declined to comment on the deal. But a spokesman for Total in Paris said the group has complied with all measures applicable to the group." (Reuters, "U.S. plays down purchase of Iran oil by company in South Korea," 1/28/2013)

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"South Korea would look for alternative supplies from Saudi Arabia, Qatar and the UAE if it could no longer import from Iran, a source at a buyer of Iranian LPG said. The same suppliers have helped to fill the gap on international markets left by the reduction in Iran's crude oil exports this year. Three South Korean firms - E1, SK Gas and Samsung Total - import propane and butane, sources said." (Reuters, "EU sanctions strangle Iranian LPG exports to Asia," 10/31/2012)

"A Kuwait-based customer, Arab Maritime Petroleum Transport Company has also been lifting about one cargo a month from Iran, the Korean source said. AMPTC has been supplying LPG to Syria, according to documents reviewed by Reuters. Tehran has backed Syrian President Bashar al-Assad as his government fights rebels trying to overthrow him." (Reuters, "EU sanctions strangle Iranian LPG exports to Asia," 10/30/2012)

"HPCL-Mittal Energy Ltd (HMEL), part-owned by steel tycoon Lakshmi Mittal, plans to stop importing oil from Iran, a company spokesman said, in a move that could hurt Iran and help New Delhi secure a waiver renewal from U.S. sanctions. euters earlier reported that HMEL had emerged as a new client for Tehran and had bought 2 million barrels oil between the start of September and mid-October. HMEL has since bought another 2 million barrels of oil, for its 180,000 barrels per day (bpd) Bathinda refinery in northern Punjab state, which was delivered at end-October by Iranian very large crude carrier Majestic, formerly known as Glory, sources privy to the development said. 'While it is a stated policy of the company not to discuss its crude procurement plan, the recent crude purchased from Iran by HMEL was based on operational requirements during stabilisation of the refinery. HMEL does not plan to buy any more crude from Iran,' an HMEL spokesman said in an emailed response to questions from Reuters . . . HMEL's decision to discontinue buying Iranian oil will be a blow to Tehran, whose exports have already declined sharply under the pressure of sanctions. India is Tehran's second-biggest crude customer . . . HMEL began buying Iranian oil without having a banking mechanism in place to settle Iran payment. The company is now trying to open an account with Turkey's Halkbank (HALKB.IS) to pay for Iranian oil, two industry sources said . . . A second source said HMEL may resume imports in the January-March quarter after India gets its waiver renewed." (Reuters, "HMEL says to halt Iran oil purchases," 11/12/12)

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"HPCL-Mittal Energy Ltd (HMEL) has taken two shipments of Iranian oil since the start of September to maximize margins at its 180,000 barrels per day (bpd) Bathinda refinery in northern India, two sources with knowledge of the deals told Reuters. The purchases came to a total 2 million barrels... Mark Dubowitz, a U.S. lobbyist for tougher sanctions on Iran and head of the Foundation for Defence of Democracies, said HMEL was taking a significant risk in buying this oil... HMEL is part-owned by Indian tycoon Mittal, who heads ArcelorMittal, the world's largest steelmaker. ArcelorMittal produces 35 percent of its steel in the Americas and 47 percent in Europe, according to the company's website. State-run refiner Hindustan Petroleum Corp and Mittal own 49 percent each in the joint venture HMEL... While India's state-run refiners are adhering to the government's verbal order to cut imports from Iran by at least 15 percent, their efforts could be undermined by private refiner Essar and now HMEL... HMEL's oil purchases came on Iran's suezmax vessel Magnolia in September and Lantana in October, said the sources, who declined to be named due to the sensitivity of the issue. Suezmaxes can carry up to 1 million barrels of crude... An HMEL spokeswoman said that, as a policy, the company does not provide details of its crude oil sourcing... In September HMEL bought a million barrels each of Arab Medium and Khafji, while for October it is scheduled to lift 2 million barrels of Arab Medium from the kingdom... 'How HMEL will make its payment is yet to be seen,' said one of the sources." (Reuters, "Exclusive: India's HMEL bought 2 million barrels of Iranian oil: sources," 10/13/2012)

Manufactures products used for the treatment and repair of valves. Listed as a participant in the 2010 Iranian Gas & Oil Exhibition. (IValuta, "2010 List of Participants") 

Specializes in solar thermal systems. Worked on a special off-grid system in Tehran, Iran. (Sunset-Solar Website, "Solar Power From Sunset")

MINA products are advertised on Iranian company, Horand Co.'s website. (Horand Website, "Homepage")

"Egypt will not stop transporting Iranian oil through the Suez Canal and internal pipelines despite the EU embargo on oil exports, Egypt's Al Ahram newspaper reported on Sunday quoting a source . . . 'Iranian oil, like any other oil, is transported in terms of contracts which are updated every year. We have not received any notifications to ban oil shipments from Iran,' the source in Egyptian energy sector told the paper. Iranian oil is transported through pipelines owned by Egyptian SUMED firm, the paper says. 'The embargo only affects the EU states, we do not have anything to do with it,' the source added."(RIA Novosti, "Egypt to Continue Iranian Oil Transit Despite EU Embargo," 7/15/12)