About the Company
Building a bridge between crude oil and Iran's future
Negin Lavan Petro-Refining Company is developing a 150,000 barrel-per-day refining and petrochemical complex in the Parsian Energy-Intensive Industries Special Economic Zone, on the Persian Gulf.
Overview
A lasting investment, sustainable development
The company was established as a private joint-stock company to implement the law supporting the development of downstream crude oil and gas condensate industries, using public investment. Its aims are to stop the sale of raw crude, create added value and jobs, and contribute to sustainable, fair development while protecting the environment.
The project comprises crude distillation, hydrogenation and catalytic process units, followed by polymer and petrochemical units, supported by utilities and offsite facilities, and is delivered in three phases.
Company facts
At a glance
- Legal name
- Negin Lavan Petro-Refining Company (private joint-stock), brand NELCO
- National ID
- 14012288430
- Registration
- No. 23095, Bandar Abbas Companies Registration Office; incorporated 17 Khordad 1402 (7 June 2023)
- Head office
- No. 3, 7th Street, Kuh-e-Noor Street, Shahid Motahari Street, Tehran · postal code 1587695113
- Registered office
- Aria Building, ground floor, Mostafa Khomeini Boulevard, University Boulevard, Golshahr Shomali, Bandar Abbas · postal code 7915319745
- Project site
- Parsian Energy-Intensive Industries Special Economic Zone
- Capacity
- 150,000 barrels of crude per day: 70% light, 30% heavy
- Stage (end of 1404)
- Pre-project development, before construction
- Shareholders
- Tamin Andish Refah Pardis and Lavan Oil Refining (direct); the Social Security Organization (ultimate, indirect)
Milestones
From registration to land lease
Key steps of the project so far.
- 7 June 2023
Company registered
Negin Lavan Petro-Refining Company is incorporated as a private joint-stock company, 17 Khordad 1402.
- 28 Feb 2024
Export and pre-sale licence
Licence granted to export products and to pre-sell up to 50% of output, up to 50% of the investment value.
- 1403 · 2024–25
Site moved to the Parsian zone
Studies began at the end of 1402. After technical, economic and logistics reviews, the move from Lavan Island to Parsian was approved in 1403, with no change in capacity or products.
- 27 Aug 2024
Official start of engineering
Engineering work on the complex officially begins.
- 23 Dec 2024
Crude feed allocation licence
The Ministry of Petroleum issues the crude feed allocation licence under the downstream-industries law.
- Aug 2025
Workshop insurance code and water MoU extension
The company obtains its workshop insurance code in Parsian, and its water-supply memorandum with Fara Abresan Sarzamin is extended to 24 February 2026.
- 19 Jul 2026
Land lease officially notified
The lease with the Parsian zone for the project's 361-hectare land requirement is officially notified to the company.
Progress
Work completed
- Conceptual studies completed by Energy Industries Engineering & Design (EIED)
- Passive-defence approval obtained
- Statutory licences re-validated, including the project's place on the priority-project list
- Industrial and non-industrial land-use agreement signed, with memoranda for water and a jetty
- Scope of work for the project-management company (MC) completed
Business
What the company does
Under Article 2 of its articles of association, the company develops, invests in, designs, builds, finances, operates and manages refinery, petro-refinery and petrochemical projects.
- Investing in, designing, engineering, building, commissioning, operating and maintaining refining, petro-refining and petrochemical complexes and their utilities
- Technical, engineering, economic and feasibility studies for oil, gas, refining and petrochemical projects
- Procuring feed from Ministry of Petroleum subsidiaries and other domestic and foreign suppliers, including swaps
- Producing, processing, storing, marketing, exporting and selling petroleum and petrochemical products
- EPC and EPCM, technical-service, consulting, joint-venture, licensing, technology-transfer and project-finance contracts
- Attracting domestic and foreign investors, using financing instruments within the law, and forming affiliated companies and partnerships
Direction
Vision, mission and values
Vision
To build an innovative ecosystem in the petro-refining industry that supports sustainable economic development, protects the environment and creates lasting jobs, and, once every phase is complete, to be recognised as a pioneer of refining and petrochemicals. The ecosystem is intelligent and technology-led: we aim to lead the digital transformation of the energy industry and to be a trusted reference for investors, the market and society.
Mission
To become a leading petro-refinery and to manage a sustainable, optimised supply chain: stopping raw crude sales, growing non-oil exports, creating the highest added value and supporting domestic production, with products of exemplary quality for domestic and international markets, especially in Asia and Europe. Our mission includes establishing Industry 5.0 in petro-refining, using AI, IoT, cloud and data to optimise processes, reduce risk and improve safety.
Our values
- Delivering the project on the basis of sustainable development
- Balancing economic, social and environmental goals
- Earning the satisfaction and trust of stakeholders
- Professional ethics and transparent decision-making
- Growth and excellence of our people
- Localising knowledge and supporting domestic production
We are not only building a refinery. We are building a bridge between crude oil and a brighter future for Iran.
Location
Parsian Energy-Intensive Industries Special Economic Zone
The zone lies 15 kilometres west of Parsian in Hormozgan Province, a junction between Hormozgan, Fars and Bushehr, and combines sea access, transport links and the infrastructure the project needs.
- Access to open waters and proximity to target markets
- Adjacent to feedstock sources
- Special-zone status and its incentives, including a 13-year tax exemption
- Passive-defence, environmental and safety advantages
- Nearby producers of support goods and services: sand, cement, asphalt, food and health products
- A well-equipped healthcare network in the region