Tubacex

"By signing a contract worth $630 million with an Iranian-Spanish consortium on Wednesday, Iran joined the world’s manufacturers of special pipes, which are of strategic importance in the oil and gas industry. The contract was signed in Tehran by the National Iranian Oil Company (NIOC) and the consortium, which includes Spain’s TUBACEX and Iran’s Mobarakeh Steel Company. The project aims to produce pipes made of corrosion resistant alloy (CRA) for a network of 600 kilometers over three years." (May 24, 2017).  (https://www.4-traders.com/TUBACEX-SA-69371/news/Tubacex-Iran-signs-630m-deal-to-produce-strategic-oil-equipment-24484949/)

The CEO of the National Iranian Oil Company (NIOC) said the implementation of a contract with Spain’s Tubacex for providing CRA pipelines is “satisfactory”, adding removing production bottlenecks of the project is under way for technology transfer to Iran. (5/9/2018) (https://en.shana.ir/news/282739/Progress-of-Pipe-building-Deal-with-Tubacex-Satisfactory-NIOC)

In 2017, Tubacex was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996 and new involvement was identified. (https://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf)

As of October 2019, Tubacex remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2019-Annual-Divestment-Report.pdf)

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As of July 2020, Tubacex remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996.  (https://www.patreasury.gov/pdf/divestment/2020-Annual-Divestment-Report.pdf)