Middle East Economic Survey

VOL. XLVIII

No 19

9-May-2005

iran

US Opposition Prevents NPC Acquisition Of Basell

Irans National Petrochemical Company (NPC) was prevented from buying polyolefins producer Basell from Shell and BASF by strong US opposition. Iranian press reports of 4 May quoted NPC President Mohammad Nematzadeh as saying: Although NPC won all aspects of the Basell tender, due to US pressures we are unofficially told Iran cannot buy Basell. A US State Department official was quoted on 2...