Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Oman to Withdraw From Iran’s Petrochemical Project, Mehr Says

Oman will withdraw from a project to build a petrochemical plant in southern Iran, the Mehr news agency cited Abdolhossein Bayat, the managing director of the National Iranian Petrochemical Co., as saying.

Oman refused to continue with the project after a dispute about the price of raw materials, Bayat said, according to the Mehr report published yesterday. He added that Oman’s decision wasn’t triggered by the imposition of international sanctions against his country.

The deal to construct the plant in the southern port town of Assaluyeh, was signed between the two countries in 2009, according to Mehr. Iran expects the Hormuz plant, which requires an investment of $500 million, to produce 1.6 million tons of ammonia and urea annually, the state-run news agency said.

The additional U.S. sanctions because of Iran’s nuclear program, adopted on Nov. 21, target companies that provide goods or services to Iran’s oil and gas industries. Existing U.S. laws have already forced most international oil companies out of Iran and the extra measures are aimed at stopping the country from obtaining technology and money from smaller foreign companies.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.