SATORP contract to boost polypropylene revenues

Updated 05 August 2013
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SATORP contract to boost polypropylene revenues

Advanced Petrochemical Company (APC) recently signed an agreement with Saudi Aramco Total Refining and Petrochemicals (SATORP) to increase the supply of propylene to 30,000 tons per year.
This brings the total supply from SATORP to 80,000 tons per year.
Last year, there was a short-term sales agreement for the supply of 50,000 tons per year of propylene that was concluded between APC and SATORP.
The duration for the supply of entire 80,000 tons per year has been amended from 3 years to 5 years.
The supply will start from Jan. 1. This supply will contribute to an increase in production of polypropylene and thus a boost in revenues from the sale of the additional polypropylene.


Turkey says trying to convince US to allow Iranian oil imports

Updated 26 April 2019
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Turkey says trying to convince US to allow Iranian oil imports

  • US demanded that Iranian oil buyers stop purchases by May 1 or face sanctions
  • The decision was more stringent than expected, and caught several key importers to plead with the US

ANKARA: Turkey is trying to convince the United States to allow refiner Tupras, its biggest oil importer, to continue buying crude oil from Iran free of sanctions, Foreign Ministry spokesman Hami Aksoy said on Friday.
Washington on Monday said it will not renew exemptions granted last year to buyers of Iranian oil, including Turkey, and it demanded that buyers stop purchases by May 1 or face sanctions.
The decision was more stringent than expected, and caught several key importers who have been pleading with Washington to continue buying Iranian oil sanctions-free.