Support for NTBFs, Key to Iran's Petchem Downstream Growth
The director of research, technology, and domestic manufacturing at the National Petrochemical Company (NPC) emphasized the need for intelligent support of new technology-based firms (NTBFs), the development of local technologies, and the creation of a sustainable value chain to secure Iran’s share in regional and global petrochemical markets.
According to the NPC, Qodratollah Nasiri said that all industry stakeholders should focus on targeted support for knowledge-based companies active across different sectors. “When we talk with some small and knowledge-based companies, we realize their main challenge is securing raw materials,” he said. “Supportive policies for small enterprises must become an institutional part of petrochemical industry development.”
Nasiri added that this supportive approach should follow a defined roadmap. “The NPC has prepared a roadmap for developing downstream industries, and it is now time to implement it,” he said. “Under the Seventh Development Plan, one of the key responsibilities is expanding downstream industries. This goal cannot be achieved without advancing technology, so clear strategies must be designed to improve and localize it.”
Government-industry synergy
Highlighting the importance of supporting technology-driven and knowledge-based firms, Nasiri said such support not only boosts domestic production but also strengthens Iran’s presence in regional markets. “If we encourage creative young people and innovative companies, provide them with necessary facilities, and leverage the Innovation and Prosperity Fund, we will soon witness significant growth in regional markets,” he said. “This is valuable not only for the national economy but also for job creation.”
Nasiri outlined three main responsibilities for the NPC: strengthening the presence of Iranian companies in regional and global markets; selecting appropriate technologies to help major petrochemical firms maintain global competitiveness; and generating widespread employment for young people. Achieving these goals, he said, requires close cooperation among the government, industry, and support institutions such as innovation funds.
“The petrochemical industry today is no longer limited to production,” Nasiri added. “Survival and competitiveness in international markets depend on advanced technologies, diversified products, and attention to downstream markets. These are the areas where knowledge-based companies can play a major role — and we must create the conditions for their voices to be heard.” - Shana
13/10/2025
Oil, Gasoline Prices Drop on Easing ME Tensions, China Trade Jitters
Crude oil and gasoline prices fell sharply today, with crude dropping to a five-month nearest-futures low and gasoline sliding to a 4.5-year low. Prices came under pressure as easing tensions in the Middle East reduced the likelihood of supply disruptions following a ceasefire agreement between Israel and Hamas.
Losses in crude accelerated after global equities declined amid renewed trade tensions with China. US President Donald Trump threatened a “massive increase” in tariffs on Chinese goods, citing recent “hostile” export controls on rare-earth minerals.
Adding to the bearish sentiment, Saudi Arabia’s state-owned Aramco decided to keep the price of its main oil grade for Asian customers for November delivery unchanged — contrary to expectations of a 30-cent-per-barrel increase. The move signalled weaker energy demand and further weighed on prices.
However, crude prices found some support after OPEC+ agreed on Sunday to raise its crude production target by 137,000 barrels per day (bpd) starting in November — well below market expectations of a 500,000 bpd increase. OPEC+ is currently in the process of boosting output by an additional 1.66mn bpd to fully reverse the 2.2mn bpd production cut implemented in early 2024. OPEC’s September crude production rose by 400,000 bpd to 29.05mn bpd, the highest level in two and a half years.
Meanwhile, reduced production in Russia lent support to oil prices after Reuters reported that Russia’s Kirishi refinery — with a capacity of 160,000 bpd — had halted most operations following a Ukrainian drone strike and fire on Saturday. Ukraine has targeted at least 15 Russian refineries over the past two months, worsening the fuel crunch in Russia and curbing its export capacity. Ukrainian drone and missile attacks have reduced Russia’s total refined-product flows to 1.94mn bpd in the first half of September, the lowest monthly average in more than three years.
A decline in global crude oil stored on tankers also provided some price support. Vortexa reported on Monday that crude held on tankers stationary for at least seven days fell by 7% week-on-week to 82.81mn barrels in the week ended October 3.
13/10/2025
Iran Invites Malaysian Investors to Tap into Mining Sector Opportunities
Iran is ready to welcome Malaysian investors into its mining industry, with the necessary infrastructure already in place to support joint projects and foreign participation, a senior industry official said during a meeting with Malaysia’s ambassador in Tehran.
Mohammadreza Bahraman, deputy head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and head of the Iran Mine House, met with Malaysian Ambassador Khairi Omar and a delegation of Malaysian investors at the Iran Mine House headquarters.
In this meeting, Bahraman highlighted Iran’s vast mineral reserves and advanced capabilities in extraction, processing, and value-added production, saying the path for Iran–Malaysia cooperation in mining is open and promising.
“Just as investors from countries like Russia and Georgia have already entered Iran’s mining market, Malaysian investors can also seize this opportunity,” Bahraman said, emphasizing Iran’s dual position as both a major exporter of mineral products and a strong domestic market for processed materials.
He noted that raising awareness among Malaysian investors about Iran’s mining potential and legal frameworks is a key priority. The Iran Mine House, he said, plays an active role in introducing Iran’s capabilities to foreign investors by providing information on regulations, procedures, and business conditions essential for entering the Iranian market.
Bahraman also encouraged Malaysian delegates to visit Iranian mines to gain first-hand knowledge of available opportunities, underlining that the required infrastructure for investment is fully prepared.
Malaysia eyes gold and copper ventures in Iran’s growing mining market
On the sidelines of the meeting, Bahraman revealed that Malaysia’s private sector has expressed interest in investing specifically in Iran’s gold and copper mines.
He said a Malaysian delegation had already toured several mining sites to assess their potential and plans to participate in the upcoming Iran Mining Exhibition (Iran CONMIN 2025), where they will meet Iranian companies to explore further cooperation. - Tehran Times
13/10/2025
Egypt Energy & FIREX Egypt 2025 to be Held
Egypt Energy & FIREX 2025 will take place at the Egypt International Exhibition Centre in Cairo from October 14th to 16th October, as per an emailed press release.
As a key step in strengthening Egypt's position in clean energy and industrial safety, the exhibition will bring together policymakers, utility executives, and investors.
The conference program directly supports Egypt's National Energy Strategy and Vision 2030, providing actionable insights to speed up the energy transition and improve industrial safety standards across North Africa.
Egypt Energy offers specialized forums addressing specific sector needs under the theme of "Accelerating Innovation and Resilience Across the Electricity Sector Value Chain".
The Renewable Energy Leadership Conference will provide practical strategies to help Egypt achieve its ambitious 42% renewable energy target by 2030.
Participants will explore detailed pathways for planned solar and wind capacity expansions through 2026, with special focus on Egypt's unique geographical advantages in these renewable resources.
Future electricity systems will take center stage in dedicated sessions, delivering technical solutions for smart infrastructure.
The Power Systems Excellence Forum will equip operators with methodologies to protect critical infrastructure against failures and disruptions.
The Health, Safety, and Environment Forum presents integrated risk management approaches specifically designed for Egypt's energy, infrastructure, and industrial sectors.
"Egypt Energy and FIREX Egypt conferences will deliver 150 international and regional expert speakers across 50 panels and sessions, providing practical support to strengthen Egypt's energy sector and safety standards," stated Mark Ring, Group Director MEA, Energy at Informa Markets.
The conferences aim to facilitate meaningful connections among over 11,500 delegates, creating partnerships that will drive Egypt's energy transformation.
13/10/2025
Oman’s Oil Production Announced
Oman’s proven oil reserves stood at 4.8 billion barrels in 2024, with total production reaching 363.3 million barrels and exports at 308.4 million barrels, according to the latest data from the National Centre for Statistics and Information (NCSI).
Natural gas reserves were estimated at 658.5 billion cubic metres, while domestic consumption amounted to 56.5 billion cubic metres. Exports of liquefied natural gas totalled 12 million metric tonnes during the year.
In the electricity sector, total production rose to 49.1 terawatt-hours (TWh) in 2024, up from 45TWh in 2023. Natural gas continued to dominate the power mix with 44.8TWh, while renewable energy contributed 2.4TWh—2.3TWh from solar and 0.1TWh from wind. The Ibri 2 solar plant accounted for the largest share, generating 1.56TWh.
Water production reached 519.7 million cubic metres in 2024, compared to 520.4 million cubic metres the previous year, reflecting a marginal 0.1% decline. Muscat governorate recorded the highest distribution at 136.9 million cubic metres, followed by Dhofar with 52.3 million cubic metres and North Batinah with 34.3 million cubic metres.
The number of wastewater treatment plants increased to 67, with a combined capacity of 147.2 million cubic metres. Desalination remained the main source of supply, accounting for 89% of total water production, while wells contributed 11%—unchanged from 2023 levels.
13/10/2025
Tanami Capital Secures Central Bank of Bahrain licence
Tanami Capital, a Bahrain-based global private market investment platform, has secured an ‘Investment Business Firm Category 2’ licence from the Central Bank of Bahrain (CBB), launching services for individual investors.
The CBB approval allows Tanami to offer institutional-grade global private market investments regionally through a seamless digital platform.
The service marks a breakthrough in wealth management by removing traditional barriers with quarterly liquidity and low minimum investment amounts.
“Tanami is creating a gateway to private markets that were previously out of reach to most individual investors,” said Tanami co-founder and chief executive officer Faisal Aljalahma.
“Our platform empowers people to access global opportunities, allowing them to diversify their portfolios and plan for their future.”
Clients can build portfolios across private equity, private credit, real estate, and infrastructure, investing alongside global leaders.
All investments can be deployed and tracked via a mobile app.
13/10/2025
Sulaymaniyah Airport Renamed
The Iraqi Ministry of Transport has announced the renaming of Sulaymaniyah International Airport to Jalal Talabani International Airport, following the approval of Prime Minister Mohammed Shia Al-Sudani.
The change honours the late President Jalal Talabani's national legacy and his role as a symbol of unity and dedication to Iraq and its people. Transport Minister Razzaq Muhaibas Al-Saadawi has directed all Iraqi airport authorities to adopt the new name across official correspondence, operational systems, and signage effective immediately.
13/10/2025
Saudi Aramco Named High-Performance Company by Willis Towers Watson
Aramco has received the “High-Performance Company” award and designation from Willis Towers Watson, the global advisory firm specialising in people management. Senior Vice President of Human Resources Faisal Al-Hajji accepted the award, reported SPA. The recognition places Aramco among only 29 companies worldwide out of Willis Towers Watson’s 500 global clients distinguished for excellence in employee experience.
It also marks a historic milestone, making Aramco the first major oil and gas company—and the first Middle East–based company—to achieve this distinction. Commenting on the achievement, Al-Hajji said the award is a testament to a distinguished work environment for employees and that their commitment made the recognition possible.
He expressed pride in what has been achieved, noting it is only the beginning of a continuous journey. As Aramco celebrates this honour, the company reiterates that employee experience is not a final destination but an ongoing journey, aiming to keep Aramco among the world’s best places to work and live.
13/10/2025