Energy

On June 30, 2020, the Mississippi Department of Finance & Administration identified Jindal Steel as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.” 

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In 2019 Jindal Steel was listed on the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran.  

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In 2017 the U.S. state of Mississippi listed Jindal Steel & Power on its Iran prohibited companies list rendering Jindal ineligible for investment and/or state contracting.

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"Iranian trade negotiators have become more assertive with Indian counterparts as hopes rise of international sanctions on Tehran easing later this year, sources said, and Indian companies fear they may lose business as more countries bid for projects. The push back from the Iranians came as a surprise to India, which has enjoyed special dispensation from Tehran as one of only a handful of countries willing to do business with it while it faced Western economic sanctions. Under a tentative framework agreement reached between six major powers and Tehran in April, Iran agreed to limit its nuclear activity in return for sanctions relief. A final deal could be reached by June 30. That prospect appears to have emboldened Iran, said sources familiar with trade negotiations with India, including in its handling of a sizeable deal to import railway tracks. The $233 million contract, signed last October, was for India's State Trading Corp (STC) to facilitate exports of rail tracks from SAIL Ltd and Jindal Steel and Power Ltd to Iran's railways. But Iran told Indian negotiators that it had offers from other countries, including Turkey, to supply the equipment at a cheaper cost, the sources said." (Reuters, "With nuclear deal in sight, Iran drives harder bargain in Indian trade talks," 5/19/15)

As of May 17, 2021, Iowa's Public Employee's Retirement System lists PowerChina on its Iran Scrutinized Companies List.

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"The company has been identified as potentially involved in hydro-power and irrigation infrastructure projects in Iran. In 2019 CalPERS designated the company as under review. In 2020 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 continues to monitor the company for possible changes in status relevant to the Act."

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As of August 15, 2019, the state of Iowa listed POWERCHINA on its Iran scrutinized companies list.

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In 2018 and 2019 PowerChina was listed on the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran.  
 

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In 2018 the U.S. state of Iowa listed Power Construction Corporation of China as an Iran restricted company rendering Power Construction Corporation of China ineligible for investment and/or state contracting.

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“Iran says a major Chinese infrastructure company is studying the prospects of investing in its water and electricity development projects. Media reports say a top-level executive team from PowerChina is currently in Tehran to meet the related officials to discuss potential areas of investments. The Chinese team on Monday visited Iran's Energy Ministry and voiced interest to take up projects in the country, Tasnim news agency reported. Officials at the Ministry also emphasized that Tehran is interested in cooperating with PowerChina, the report added. Alireza Daemi, the deputy energy minister for planning affairs, told Tasnim that Iran is specifically interested in cooperating with the Chinese company in constructions of dams, using renewable energies, building combined-cycle power plants, and the development of hydropower projects. All these projects, Daemi added, will be carried out with PowerChina through a scheme known as engineering, procurement and construction (EPC)." (Press TV, "Chinese firm studying Iran power projects," 5/12/15)

Dalian Deep Blue Pump Co.,Ltd. (“Deep Blue Pump”) is listed as an exhibitor at the 24th International Oil, Gas, Refining and Petrochemical Exhibition (“Iran Oil Show”), which will take place at the Tehran International Permanent Fairground on May 1-4, 2019.

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"According to the oil ministry, 1,200 Iranian companies and 600 international businesses from 29 countries including Britain, China, France, Germany, Russia, Singapore and the United Arab Emirates registered for the four-day Tehran exhibition. 'Iran has a lot of resources and they can become an even bigger power if the sanctions go,' said Gerhard Klaumunzer, a sales executive for Deep Blue Pump FZC, a Dutch-Chinese equipment firm still operating in Iran." (Yahoo, Nuclear deal can make Iran region's 'No.1' energy power, 5/6/15)

"WARSAW, April 13 (Reuters) - Poland’s biggest oil refiner PKN Orlen said on Friday that a shipment of 130,000 tonnes of Iranian crude oil has arrived at the Baltic seaport of Gdansk. “Delivery from Iran has become a fact. Oil from the Middle East gives us many opportunities. First of all, it enables diversification of delivery directions and increases the energy security of the state,” PKN said in a statement." (April 13, 2018).

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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," 1/10/2017).

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"Poland's biggest oil refiner PKN Orlen said on Wednesday it bought 1 million barrels of Iranian Light oil from National Iranian Oil Company (NIOC). The state-run PKN, which mostly refines Russian oil, said that the Iranian oil will be delivered to Naftoport in Gdansk in January and then transported to PKN's refinery in Plock. "The processing of the feedstock most recently delivered from Iran will be a basis for further plans regarding supplies from that direction," PKN said in a statement." (Reuters, "Poland's PKN says buys 1mln oil barrels from Iran," 12/20/2016).

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"Poland's largest oil refiner PKN Orlen has delivered a gas condensate cargo of Iranian origin for its Mazeikiai refinery in Lithuania, traders said on Friday. It's not clear if PKN has violated international sanctions against Iran by supplying the cargo. The company declined immediate comments. Traders said that the 122,000-tonnes cargo was shipped to the port of Butinge." (Reuters, "Poland's PKN delivers Iran's gas condensate for its refinery-traders," 4/24/15)

"With only days left to Iran’s presidential elections, the Ukrainian Embassy in Tehran held a gathering of Iranian and Ukrainian officials and businesses this week to discuss bilateral cooperation in heavy industries. The star of the show and co-organizer of the event was the Ukrainian company Interpipe, a manufacturer of seamless steel pipes used in oil and gas sectors, rail parts and wagons.... Interpipe is no stranger to Iran, as it has worked with several partners in the country throughout the years, mostly in supplying rail parts and wheels. It already has a 3,000-wheel shipment underway for RAJA Rail Transportation Company." (May 2017)

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"The fourth richest man in Ukraine, Pinchuk owns Interpipe Group, a Cyprus-incorporated manufacturer of seamless pipes used in oil and gas sectors. Newsweek has seen declarations and documents from Ukraine that show a series of shipments from Interpipe to Iran in 2011 and 2012, including railway parts and products commonly used in the oil and gas sectors. Among a number of high-value invoices for products related to rail or oil and gas, one shipment for $1.8m (1.7m) in May 2012 was for “seamless hot-worked steel pipes for pipelines” and destined for a city near the Caspian Sea. Both the rail and oil and gas sectors are sanctioned by the US, which specifically prohibits any single invoice to the Iranian petrochemical industry worth more than $1m. However, US sanctions laws are complex and, in certain areas, ill-defined. Interpipe may qualify for penalties due to the mere presence on American soil of North American Interpipe Inc, its United States subsidiary." (Newsweek, "Hillary Clinton's Big Benefactor Has Trade Links with Iran," 4/18/15)

Listed as  a French member of the Franco-Iranian Chamber of Commerce and Industry

"The company was reported as potentially purchasing Iranian crude. 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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Mitsubishi International lists an office in Tehran Iran on its company website. 

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"Trading house Mitsubishi Corp. said it had asked employees stationed at its operational bases in Iran and Iraq to remain on alert but has not gone as far as to evacuate them." (The Japan Times, "Japan firms pull staff out of Iran and limit Iraq travel amid high tensions," 1/9/2020).

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Mitsubishi Corp. had previously been removed from the Iran related securities list. In 2017, CalSTRS designated Mitsubishi Corp. as “Under Review” for potentially having new ties to Iran. In 2018, CalSTRS removed Mitsubishi Corp. after reviewing the
company’s business with Iran and internal controls to prevent sanction violations.

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In 2017 the U.S. state of California listed Mitsubishi as a company under review for reportedly renewing contracts to purchase Iranian crude.

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"Japan's Mitsubishi Corp bought a naphtha cargo from Iran last month, the Asian country's first such purchase from Iran since October 2016, sources familiar with the matter said. The naphtha cargo, loaded in late January, has arrived in Japan and is from the new Persian Gulf Star Refinery (PGSR), one source added… A Mitsubishi spokesman confirmed it had bought naphtha from Iran recently, but declined to comment on details or which refinery the cargo was from due to company policy." (Reuters, "Japan's Mitsubishi Buys Iran Naphtha Cargo," 2/21/2017).

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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. Mitsubishi 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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The German economy ministry said several firms from the Mittelstand, the small-to-medium-sized companies that form the backbone of the economy, had also signed deals with Iranian partners. Mitsubishi Germany has signed a contract to modernize a gas-fired plant, while plant constructor Keller HCW wants to build a brickyard in Iran, it said. Both countries' central banks have also agreed to technical co-operation." (Reuters, "Siemens signs Iran rail contract as Germany drums up business," 10/3/2016). 

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"Iran said on Monday that it welcomes the return of Japan's Mitsubishi and Mitsui to its petrochemical projects. Abbas Sheri-Moqaddam, the managing director of the National Petrochemical Company (NPC), said Mitsubishi and Mitsui had a satisfactory performance in different sections of Iran’s petrochemical industry. Sheri-Moqaddam,  speaking in a meeting with the heads of the two companies who are in Tehran on board a senior Japanese trade delegation, added that they can again participate in Iran’s projects once the sanctions against the country are lifted... The heads of Mitsubishi and Mitsui for their part said they are ready to resume investments in Iran once the sanctions against the country are lifted." (Press TV, "Iran wants Japan’s big petchem firms back," 10/12/15) 

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"Iran is in talks with three Japanese and South Korean oil and gas companies to invest in its oil and gas projects, Head of Investment Committee of the National Iranian Gas Company (NIGC) Asghar Soheilipour said. He said that Japan's Mitsubishi and South Korea's LG and Samsung are negotiating with NIGC to design, establish, and install gas refineries and pipelines, Iran's Mehr news agency reported on Jan. 13. Some Japanese and Italian companies have announced readiness to implement projects even before lifting the international sanctions, he noted." (Trend, "Iran in Talks with Japanese, Korean Oil and Gas Companies," 1/13/15)

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"Head of the investment committee of the Iran National Gas Company (INGC) Asghar Soheilipour said that his company was offering information about Iran's top priority gas projects to potential foreign and domestic investors... The official referred to Mitsubishi, LG and Samsung as corporations having announced readiness for making investments in Iran gas projects." (IRNA, "Official: Foreign firms eying investment in Iran gas industry," 1/3/15)

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In 2015 Mitsubishi was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because the company's "involvement in purchases of crude oil falls under the waivers granted by the U.S. government that meet Section (a)(2) of Act 44's expiration clause."

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In 2013, Mitsubishi was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of government oil-related activity. 

"Iranian economy minister and Pakistani oil minister have signed an agreement to resume Iran oil export to Pakistan after a three-year suspension. Iranian crude oil exports to Pakistan stopped by Karachi refinery three years ago after barriers for opening letters of credit occurred. National Iranian Oil Refining and Distribution Company (NIORDC) and Pakistani Oil Refining Company had signed a long-term contract to sell about 12 thousand barrels of crude oil per day." (Mehr News, "Pakistan Resumes Crude Oil Import from Iran," 12/10/14)

"Several major companies such as Siemens had been forced to reduce their activities in Iran due to the sanctions. Other companies with business interests there include Bayer and utilities RWE and E.ON." (Reuters, "German exports to Iran surge after easing of sanctions," 11/4/14)

"Iran offers Russia’s energy company Rosneft to participate in oil extraction and refining projects in the country, Iranian Ambassador to Russia Mehdi Sanaei told Sputnik Tuesday. "Rosneft is cooperating directly with the Petroleum Ministry and the headquarters [for Executing the Order of the Imam (Setad)]… The headquarters has various projects, and Rosneft may invest and participate in them," Sanaei said, specifying that these projects include both oil extraction and its processing." (Sputnik, "Iran offers Rosneft to Take Part in Oil Extraction, Refining Projects," 10/26/2016).

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"Russian oil and gas company, RAO Rosneftegazstroy, has agreed to establish a petrochemical complex in Iran." (Trend, "Russian Co. to build Hormoz Petrochemical Complex in Iran," 9/17/14)