Sepahdar Ansari-Nik, during a joint meeting of senior executives from Bandar Imam Petrochemical and Hoveyzeh Persian Gulf Gas Refining Company, emphasized the refinery's critical role in supplying feedstock to Bandar Imam Petrochemical Company.

The meeting aimed to finalize financing for the West Karun feedstock transfer project and accelerate the implementation of the second phase of the Hoveyzeh complex.

Ansari-Nik stated that the Hoveyzeh refinery represents both an opportunity and an investment for Bandar Imam Petrochemical.

He expressed the company's intention to support both entities by financing joint projects to enhance operational efficiency.

Detailing the financing of the upstream Hoveyzeh feedstock by Bandar Imam Petrochemical Company, Ansari-Nik explained that the construction of two pipelines and the completion of the second phase of the Hoveyzeh complex will be funded by the company.

He noted that, pending approval from Bandar Imam Petrochemical's board of directors, a $150 million budget has been allocated for these projects, which will increase feedstock supply from the complex to Bandar Imam by 50,000 barrels per day.

Ansari-Nik highlighted the agreements and contracts between Bandar Imam Petrochemical and the Hoveyzeh Persian Gulf Refinery, suggesting that the Persian Gulf Holding should make a decision to allow Bandar Imam Petrochemical to become a shareholder in the refinery.

This move would enhance motivation, facilitate project financing and feedstock supply, and prevent potential conflicts of interest.

Addressing the issue of gas flaring and the waste of valuable national resources, Ansari-Nik stressed the need for special attention from Iran's National Oil Company managers and decision-makers.

He called for increased cooperation and efforts to advance gas collection and processing projects to prevent the loss of these valuable national resources.