Energy

“Saj Steel Company has started its activity in the field of supplying special steel products since 1990, based on the needs of the country's industries and mines, from the reputable Voestalpine company. These products were selected based on the needs of different industries such as steel, mines, cement and automobiles to supply and serve the country's industries. Saj Steel Company as the official representative of Voestalpine Austria in Iran…” (Sage Steel Ltd Website)
 

--

Voestalpine AG is an international steel company based in Austria, with revenues of 11 billion euros as of 2010. Voestalpine manufactures steel and steel products for the railway, automative, tool, and energy industries (Company Website).

--

Voestalpine and its subsidiaries including Böhler Edelstahl, Böhler PROFIL, Uddeholm, Associated Swedish Steels AB (ASSAB), Buderus Edelstahl, and Voestalpine Böhler Welding list distributors in Iran on their respective websites. These subsidiaries manufacture a variety of metal and industrial products including high-speed, high-grade, tool and switch steels. 

--

Voestalpine maintains a significant U.S. presence including a number of subsidiaries, offices, facilities, and manufacturing plants located across the U.S. (Voestalpine website, “Location”; Voestalpine Nortrak, “United States Locations”; Bohler-Uddeholm United States website, “Headquarters”; Roll Forming Corporation website, “Company Profile”; Edro, “Our Locations”) Valued at $740 million and set for an April 2014 groundbreaking, Voestalpine Texas LLC’s iron ore processing plant based outside Corpus Christi is touted as “Voestalpine’s largest foreign investment to date.” (Voestalpine website, “Voestalpine Texas LLC”)

--

Reports show that an Austrian trade delegation reportedly comprised of 17 national companies began a three-day long mission in Iran on December 6. (Wiener Zeitung, “'Wir wollten ein Signal setzen,'” 12/26/13) The delegation reportedly met with Seyyed Mehdi Mir-Abutalebi, the deputy head of Trade Promotion Organization of Iran. (Tehran Times, “Iran, Austria to develop economic, trade ties,” 12/7/13) According to an Austrian media report, Voestalpine, through its rail division Voestalpine Schienen, was among the companies represented. (Die Presse, “Irans Ölminister traf OMV-Chef Roiss,” 12/5/13) 

--

“VAE, a company of the voestalpine Group and the global market leader in turnout technology, has been supplying the Iranian State Railways and Metro administrations for forty years. During these four decades of ongoing business relations, the company has been supplying several thousand switches and replacement parts to Iran. The trains of the Tehran Metro run over VAE switches – and also on track made by voestalpine. Following initial deliveries of 428 switches, further orders were won. As part of the fulfillment of the current order for switches which are needed for extending the system, one group of switches was urgently needed for logistical reasons...‘For many decades, the Iranian customers have been appreciative of the high quality and the excellent technology of our switches. This forms the basis for our relationships with these customers, which are important to us and which have been built up over many years’, commented Marc Kaddoura, Managing Director of VAE GmbH.” (Voestalpine Media Information, “World Premiere: Railway Switches Delivered by Airplane,” 3/12/09)

--

An Iranian company, Tajhiz Sanat Hezareh, also known as MIP Ltd., advertises itself as "the exclusive agent of Voestalpine" and supplies "heavy plates, clad plate heads, cones, welding consumables and superalloys in demanding industries like oil, gas, petrochemical, refinery, and power" (Tajhiz Sanat Hezareh).

"Some firms on the list already are the targets of federal sanctions. They include the state-run Petroleos de Venezuela, the Belorussian firm Belarusneft, China's Zhuhai Zhenrong Co., Singapore's FAL Oil Co. and Kuo Oil, and Switzerland-based Naftiran. Others, including Angola's Sonangol, reportedly have pulled out of Iran in response to international sanctions." (The Baltimore Sun, "22 companies are listed for alleged Iran ties, sanctions," 9/17/2012)

--

"The United States on Tuesday added a Belarussian oil company to its blacklist of firms accused of flouting sanctions imposed on Iran for failing to rein in its suspect nuclear program. Belarusneft allegedly signed a $500 million dollar contract in 2007 with the Iranian firm NaftIran Intertrade to develop the Jofeir oil field. NaftIran was slapped in September 2010 with US sanctions as part of a UN embargo imposed on Tehran in June 2010. The blacklisting of Belarusneft means the firm will be barred from doing business on the American market, a State Department statement said.

According to the US State Department, the global sanctions have hit Iran's capability to invest in oil and gas production. 'Iran's ability to attract new investment to develop its oil and natural gas resources, and to produce or import refined petroleum products, has been severely limited,' the State Department said in a statement. Cutting the Islamic republic's income from oil and gas revenue is one of the main thrusts of the US strategy to stop Iran from investing in its nuclear energy program." (AFP, "US blacklists Belarus oil firm for Iran ties," 3/29/11) 

In January 2021, the State of New Jersey Department of the Treasury listed Sinohydro as a company engaged in prohibited activities in Iran pursuant to P.L. 2012, c. 25 ("Chapter 25"). 

--

On October 14, 2020, Sinohydro remained on the Tennesse Department of General Services list of persons it determines engage in investment activities in Iran, as described in 12-12-105.

--

As of July 1, 2020, Sinohydro is listed as an entity “determined, based on credible information available to the public, to be engaged in prohibited activities in Iran pursuant to New Jersey P.L. 2012, c.25 (“Chapter 25”). 

--

In 2020, the U.S. state of Mississippi listed Sinohydro on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

--

As of June 8, 2020, Sinohydro is listed on the Pennsylvania Department of General Services Iran Free Procurement List. Entities included on this list are ineligible to enter into a contract with the Commonwealth of Pennsylvania for goods and services worth at least $1,000,000 per sections 3501-3506 of the Commonwealth Procurement Code, 62 Pa. C.S. §§ 3501-3506.  

--

As of April 15, 2020, Sinohydro is included on the Tennessee list of persons it determines engage in investment activities in Iran, as described in § 12-12-105. 

--

As of April 15, 2020, Sinohydro is included as an entity determined to be non-responsive bidders/offerers pursuant to The New York State Iran Divestment Act of 2012.  

--

On June 30, 2019, New Jersey listed Sinohydro on its state list of entities determined, based on credible information, to be engaged in prohibited activities in Iran.

--

On March 13, 2019, the Mississippi Department of Finance & Administration identified Sinohydro 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.”  

--

In 2018 the U.S. state of New Jersey, New York listed Sinohydro on its list of entities determined to be engaged in prohibited activities in Iran rendering Sinohydro ineligible for investment and/or state contracting.

--

In 2018 and 2019 Tennessee used the New York list of “Entities determined to be non-responsive bidders/offerers pursuant to the New York State Iran Divestment Act of 2012.” Sinohydro was included on this list in 2018 and 2019. Tennessee states "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."

--

In 2017 the U.S. state of Pennsylvania, Mississippi listed Sinohydro on its list of companies doing material business with Iran rendering Sinohydro ineligible for investment and/or state contracting.

--

"China's Sinohydro Group said it has not received any written notification that Iran has cancelled a $2 billion contract for it to help build a hydroelectric dam in the country... Sinohydro won the project with Iran's hydro firm Farab in March last year." (Reuters, "China's Sinohydro says no notification of Iran dam cancellation," 6/4/2012)

--

"On 15th March 2011, SINOHYDRO signed the nearly $2 billion contract of Iran's Bakhtiary Dam and Hydropower Plant Project with Iran Water & Power Resources Development Company in Tehran. The Project is located on the lower part of Bakhtiary river in Lorestan Province, Zagros folded area, Iran. The total installed capacity is 1,500 MW. Bakhtiary dam is a planned double-curve arch dam with a height of 315m. It will be the world's tallest dam once completed and withhold the largest reservoir in Iran. After competitive tendering process, SINOHYDRO and Iran's Farab jointly won the project. The contract period is set to 118 months." (Sinohydro Press Release, "Sinohydro Signed the Contract to Build Iran's Bakhtiary Project," 3/15/2011)

--

"Iranian and Chinese officials will sign a $2 billion agreement for the construction of a dam and a power plant in Iran's western province of Lorestan, Press TV reported. The agreement will be signed between Sinohydro Corp., China's largest water projects developer, and Iran's Farab, the state-run news channel said, citing Mohammad Reza Rezazadeh, the managing director of Iran's Water and Power Resources Development Co. The contract will be completed this week and operations are to start in the next Iranian calendar year, which starts on March 21, according to the report, published on Press TV's website today." (Bloomberg News, "Chinese to Build $2 Billion Iran Dam, Power Plant, Press TV says," 3/14/11)

--

On October 14, 2020, Unipec remained on the Tennesse Department of General Services list of persons it determines engage in investment activities in Iran, as described in 12-12-105.

--

Unipec is a subsidiary of Sinopec Corp

--

"China may buy more Iranian oil next year as a state trader is negotiating a new light crude contract that could raise imports from Tehran to levels not seen since tough Western sanctions were imposed in 2012, running the risk of upsetting Washington…industry sources say Chinese state-trader Zhuhai Zhenrong Corp, which was sanctioned by Washington in early 2012 for supplying gasoline to Iran, is in talks with the National Iranian Oil Company (NIOC) for a new contract for condensate…Zhenrong, an affiliate of China's defense authorities in the 1990s, acts largely as an import agent for China Petroleum and Chemical Corp, or Sinopec, whose refineries process Iranian crude…The balance of China's contract volumes from Iran would be going to Sinopec, through its trading vehicle Unipec. Unipec agreed with NIOC early last year to an 8-year oil contract to end-2019 to lift around 265,000 bpd, about a quarter of which is condensate, according to a second trading official. Under U.S. and European sanctions, Sinopec has been lifting below those contractual volumes to win waivers to the U.S. measures every six months, with one official estimating the cut at 11-13 percent. Sinopec has filled the gap mainly with Iraqi and Russian supplies…A Sinopec spokesperson said he was not aware of the contract and was unable to comment. Since November, Sinopec has loaded slightly above contractual rates following a meeting the previous month between Iran's deputy oil minister Ali Mojedi and a Sinopec executive in charge of trading, said the second official. But Sinopec may not risk raising imports significantly higher before more progress is made on easing sanctions on Iran.'There are still potential risks without signs of sanctions being lifted in a meaningful way,' said a procurement official with a Sinopec refinery." (Reuters, "Exclusive: China may raise Iran oil imports with new contract: sources," 12/31/13)

--

"The main cuts for the year could come from Unipec, trading vehicle of Sinopec Corp, as the state refiner came under more political pressure compared to the unlisted state trader Zhuhai Zhenrong Corp, which was blacklisted by Washington in early 2012." (Reuters, "China's H1 Oil Imports Drop, Make Case for Waivers," 7/22/13)

--

"The delivery of millions of barrels of Iranian crude to its top buyer, China, is at risk of delay due to a dispute between refining giant Sinopec and shipper National Iranian Tanker Co (NITC) over freight terms, Beijing-based sources said on Tuesday . . . 'There is some problem between NITC and (Sinopec's trading arm) Unipec over the freight issue,' said an Iranian oil official who requested anonymity as he was not authorized to speak to the media.'Unipec has proposed a number and it's now under consideration by NITC. I hope this can be solved very soon,' the official said . . . Unipec last month requested that Iran deliver July-loading crude cargoes to Chinese ports and provide price quotes on a cost-insurance-freight basis . . . Sinopec, through Unipec and state-trader Zhuhai Zhenrong Corp, had scheduled to lift some 500,000 bpd of Iranian oil this month, traders said. However, Chinese traders said Sinopec's import appetite could be limited after record imports in May and lacklustre domestic demand that has forced it to cut production at its refineries."  (Reuters, "Exclusive: Freight dispute risks delay in Iran oil to China - sources," 7/2/12)

--

"A steep drop-off in China's crude-oil imports from Iran earlier this year, which companies involved blamed on a contract dispute, has provided a face-saving way for Beijing to appease the U.S. even as it officially maintains opposition to U.S. sanctions against Tehran, analysts said.

The U.S. decision on Thursday to exempt China from penalties targeting financial institutions that do business with Iran's energy sector came after data showing that China's imports of crude from Iran over the first five months of 2012 were down almost 25% from a year earlier. China International United Petroleum & Chemical Co., known as Unipec, and National Iranian Oil Co. started the year stuck in drawn-out contract negotiations. Though they reached agreement in February, imports didn't recover until April; by May they were back to levels similar to those of a year earlier.

The exemption appears in part to be a goodwill gesture as both China and the U.S. enter sensitive political periods and remain starkly divided on diplomatic and military issues ranging from continuing violence in Syria to strengthened U.S. security ties with China's neighbors…Chinese majors such as Unipec's parent China Petroleum & Chemical Corp., or Sinopec Corp., are venturing abroad in search of higher returns, and U.S. energy projects look particularly attractive because of the recent boom in North American shale gas, which China hopes to replicate back home…Sinopec recently completed its first major U.S. deal, a $2.44 billion purchase of a one-third stake in five shale-gas assets owned by Devon Energy Corp., and more investments in the region are likely to follow." (Wall Street Journal, "U.S., China Find Path on Iran," 6/29/12)

--

"Asia's top buyers of Iranian oil cut imports by more than a quarter of a million barrels per day in the first five months of the year as they prepared for U.S. sanctions that take effect on Thursday and EU curbs that bite from Sunday…Still, both China and Japan plan to keep some oil flowing from Iran…Unipec, the trading arm of China's top refiner Sinopec Corp , requested Iran to deliver July-loading crude cargoes to Chinese ports, sources said last week. One source estimated Sinopec will lift about 500,000 bpd for July, a level similar to the average amount the top Asian refiner bought from Iran last year." (Reuters, "Iran's top Asian oil buyers cut imports 18 pct," 6/28/2012)

--

"Unipec, the trading arm Sinopec Corp (0386.HK), requested Iran to deliver July-loading crude cargoes to Chinese ports, sources said. One source estimated Sinopec will lift about 500,000 bpd for July, a level similar to the average amount the top Asian refiner bought from Iran last year. The Unipec request suggests that China hasn't worked a permanent way to cover China-flagged tankers which have been transporting at least part of the Iranian oil." (Reuters, "Japan, China to import Iran oil after EU Ban," 6/20/12)

--

"State-controlled China International United Petroleum & Chemical Co., known as Unipec, had skipped purchases from National Iranian Oil Co. as they worked out differences over the terms of the supply agreement." (The Wall Street Journal, "China Oil Imports From Iran Rebound," 5/21/2012)

--
"China International United Petroleum & Chemicals Co., Ltd. (UNIPEC), a wholly owned affiliate to China Petroleum & Chemical Corporation (Sinopec.), is China's largest oil trading company." (Company website)
--
"Most of the oil that goes from Iran to China is handled by the Unipec trading arm of Sinopec, China’s second-largest oil company, and through another trading company called Zhuhai Zhenrong, the oil industry executives said." (Financial Times, "Iran Accepts Renminbi for Crude Oil," 5/8/2012)
--
"Open sources reported that Sinopec's trading arm Unipec sold gasoline to Iran in 2010." U.S. Government Accountability Office, Report: "Firms Reported in Open Sources to Have Sold Iran Refined Petroleum Products between January 1, 2009 and June," September 3, 2010)

In 2020, the U.S. state of Mississippi listed ChinaOil on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

--

In 2017, the states of Mississippi,  New Jersey, New York,  and Pennsylvania, listed ChinaOil on its Iran scrutinized companies list rendering ChinaOil ineligible for investment and/or state contracting.

--

ChinaOil "is jointly owned by China National Petroleum Corporation (CNPC) and Sinochem Corporation. Managed and operated by CNPC, its activities cover all the regions in the world. Chinaoil is licensed to import and export crude oil and refined products, and licensed to conduct futures contract transactions of crude oil and refined products both domestically and internationally. It is also the entity designated by CNPC to source crude oil and market refined products overseas for refineries under CNPC, and procure refined products from international market to meet domestic demand." (Company website)

--

"Open sources reported that ChinaOil sold gasoline to Iran in 2010." (U.S. Government Accountability Office, Report: "Firms Reported in Open Sources to Have Sold Iran Refined Petroleum Products between January 1, 2009 and June 30, 2010," 9/3/10)

--

"But while others back out, Chinaoil has sold a total of about 600,000 barrels worth around $55 million to the Islamic Republic. The cargoes were Chinaoil's first direct sales to Iran since at least January 2009, according to Reuters data. Chinese firms have previously sold through intermediaries, traders said. 'Prior to this there was some third-party trades going on, but this was a direct sell,' a trader said. Chinaoil is the trading unit for China's top energy group China National Petroleum Corp (CNPC), which is the parent of U.S. and Hong Kong-listed PetroChina (0857.HK) (PTR.N). A CNPC spokesman was unable to comment on the sales." (Reuters, "Exclusive: China's top oil firms sell gasoline to Iran-trade," 4/14/10)

 In 2017 the U.S. state of Michigan and Mississippi listed JX as an Iran restricted company rendering JX ineligible for investment and/or state contracting.

--

Reuters reported: "JX Holdings Chairman Yasushi Kimura said on the sidelines of an industry gathering the refiner’s annual term crude contract with Iran had been renewed, although he could not confirm the volumes. Asked if JX would increase its Iranian volumes once international sanctions put in place against Tehran over its nuclear programme are lifted sometime this year, Kimura said: “That would depend on the economics.” (Reuters, “Japan’s JX renews Iran term crude contracts for 2016 –sources,” 1/5/2016).

--

 Now JXTG Holdings

--

JX Group is a Japanese energy conglomerate that is the parent company of Japan Energy and Nippon Oil. JX Group refines and sells petroleum products (gasoline, petrochemicals, lubricants), imports and sells gas, and generates and sells electricity. These products are marketed under the brand name ENEOS. It invests through JX Holdings (Company Website). 

--

“Two Japanese buyers of Iranian crude, Idemitsu Kosan and Cosmo Oil, are unlikely to raise imports from the Middle Eastern country even after sanctions were eased as part of an initial deal on Tehran's disputed nuclear programme...Japan's biggest importer of Iranian crude, JX Holdings Inc , had also earlier said it would not be increasing its Iran volumes in 2014…JX renewed its annual contract for importing crude from Iran for 2014 with volumes steady to slightly lower compared to last year, an official said last month.” (Reuters, “Japan's Idemitsu, Cosmo unlikely to raise Iranian crude imports,” 1/7/14)

--

"Japan's biggest oil refiner JX Holdings has renewed its annual contract for importing crude oil from Iran for 2014, with volumes steady to slightly lower compared to this year. Steady progress in talks between world powers and Iran over Tehran's decade-old disputed nuclear programme is raising hopes shipments from the OPEC member will stabilise next year at the current reduced levels, prompting JX, and potentially, other buyers to renew their contracts…JX will import quantities of Iranian crude that are permitted under the Western sanctions, chairman Yasushi Kimura told reporters on Thursday, but declined to comment on the volumes…An official at JX Nippon Oil & Energy Corp, the downstream oil unit of JX Holdings, said import volumes for 2014 from Iran have not been set formally but have been mostly decided, with steady or slightly lower quantities to be imported compared to 2013 levels. 'Volumes are not rising,' in 2014, the official said. JX Nippon is likely to cut its Iran import volumes to around 60,000 bpd in 2014 from an estimated 73,000 bpd this year, an industry source familiar with the matter said in September." (Reuters, "Japan's JX renews annual Iranian crude import contract for 2014," 12/19/13)

--

JX was identified by energy industry analysts to have purchased 53,000 barrels of crude oil per day from Iran in 2010.

Sofinter is a steam and power generation company, deriving power from various sources including biomass, conventional fuels, and industrial waste. It specializes in the design, manufacture, and installation of salt water desalinization plants, along with waste treatment and industrial boilers (Bloomberg). 

--

Sofinter subsidiary Europower manufactures machinery for power plants, and has been active in Iran. On its "Experience" page, Europower describes a contract it fulfilled to expand Iran's Shahzad Arak refinery, the largest in the Middle East. Europower provided machinery, design calculations, detailed drawings, 3D modeling, and materials requisitioning to facilitate an expansion of the plant. Europower contracted with the Iranian Oil Engineering and Construction Company, a state-owned entity. 

--

Sofinter subsidiary Macchi, a manufacturer of machines for steam and power generation, lists twelve boiler projects in Iran under its "Worldwide Experience" page. 

--

Sofinter subsidiary Saline Water Specialists, a manufacturer specializing in industrial water treatment solutions and seawater desalination, lists four installations in Iran under its "Worldwide Experience" page.

--

Sofinter subsidiary Commissioning Italia, an industrial service training company, lists 6 refineries and installations in Iran for which it has performed work on its "Worldwide References" page.

On September 19, 2007, Petronas Gas was added to the Florida State Board of Administration List of Prohibited Investments (Scrutinized Companies) due to its involvement in Iran. As of March 9, 2021, Petronas Gas remains on the SBA list of prohibited investments. 

--

In 2020, the U.S. state of Mississippi listed Petronas Gas on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting.

--

On June 1, 2020, the Ohio Police & Fire Pension Fund (“OP&F”) listed Petronas Gas on its scrutinized companies Iran/Sudan list.   On September 24, 2008, OP&F adopted an Iran and Sudan Divestment Policy, which notes, “[t]he purpose of this Policy is to divest and restrict the purchase of stocks and bonds (“direct holdings”) issued by a publicly traded Company… with “scrutinized active business operations” in Iran and Sudan.”  

--

As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list Petronas Gas on its list of “Scrutinized companies with Activities in the Iran Petroleum Energy Sector.” 

--

On January 13, 2020, the South Dakota Investment Council submitted a report to the Executive Board of the Legislative Research Council regarding compliance with SDCL 4-5-48 to 4-5-60, Iran Divestiture. Included in this report is an Iran Scrutinized Companies list of all prohibited investments for which the internal managers and direct external managers are instructed not to purchase any company on the list. Petronas Gas is included on this list.

--

As of December 31, 2019, the Alaska Retirement Management Board lists Petronas Gas as a company doing material business with Iran.  

--

Petronas Gas is listed on the June 4, 2019 and July 12, 2019 Florida State Board of Administration list of prohibited investments (Scrutinized companies) for Iran related business.

--

Petronas Gas Bhd is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

--

On March 13, 2019, the Mississippi Department of Finance & Administration identified Petronas Gas 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.”  

--

Petronas Gas Bhd is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

--

In 2017 the U.S. state of Alaska, Florida, Texas listed Petronas Global  on its list of companies doing material business with Iran rendering Petronas Global ineligible for investment and/or state contracting.

--

 In 2018 the U.S. state of Ohio listed Petronas Global Sukuk on its list of entities determined to be engaged in prohibited activities in Iran rendering Petronas Global Sukuk ineligible for investment and/or state contracting.

--

Petronas Gas Berhad is the gas wing of the Malaysian national oil company, Petronas. Petronas Gas Berhad is engaged in gas processing, gas transmission, industrial utilities, and engineering management services (Company Website). 

--

In 2004, Petronas Gas signed a shareholder agreement with the National Iranian Oil Company to create a liquefied natural gas company, Pars LNG Co (Company Timeline). 

--

Petronas Gas has been targeted for divestment by the Florida State Board of Administrators over its involvement with the Iranian petroleum industry. 

Snam Rete Gas "heads the regulated gas sector in Italy" and manages the transportation, regasification, and storage of natural gas through pipelines throughout Italy. They are 50.03% owned by ENI, had a net profit of 732 million euros in 2008, and 1.25 billion euros of investments (Company Website). 

--

Snam Rete Gas has been targeted for divestment by the Florida State Board of Administration as a company involved with the Iranian petroleum sector.

--

The State of California added Snam Rete Gas to a 2013 list of "entities prohibited from contracting with public entities in California per the Iranian Contracting Act, 2010."