Samsung Total Petrochemicals strikes feedstock deal with Iran, report says

Samsung Total Petrochemicals (STP; Seoul), a joint venture between Samsung and Total, has reinstated a contract to purchase Iranian crude oil after a one-year hiatus, Reuters reports. STP, facing thin margins in the plastics market, is attracted by cheap feedstock costs, the report says. Japanese and Korean crude oil buyers have found ways to circumvent international sanctions on Iran without violating them, the report adds.   STP and Total each stopped buying Iranian crude last year to comply with sanctions on Iran. The decision resulted in a 90% fall...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers