In an exclusive interview with How to Invest in Iran at FINEX 2017, Tehran’s International Exhibition of Exchange, Bank & Insurance, Behran Oil’s CEO Mr. Assad Azizi informed the public of the organization’s expansion plans in the coming year; upon approval from the primary shareholders’ decision to increase capital by 50 percent.

Mr. Assad Azizi elaborated on the organization’s activities in the previous year as well as what Behran Oil has planned for the upcoming year. Currently Behran Oil holds half of the nation’s Industrial & Motor Oil market share and is the industry leader. Behran Oil has benchmarked international brands in order to formulate localized versions of the same products. Through extensive research and development with over 50 years of experience, Behran Oil has received 50 approvals from international companies such as Mercedes-Benz, Volvo… etc. This has been instrumental for its success both locally and in international markets and exports, positively impacting the company’s growth rate.

Currently there are various sales engineer offices active throughout numerous provinces providing consultation, educational and laboratory services in order to increase market share of the industry. Mr. Azizi also emphasized the importance of the company’s corporate social responsibility; namely the environment. As a result, their goal is to provide products to the public that are safe and compatible with the environment.

In an overview of Behran Oil’s financial position, Mr. Azizi claimed that the company’s sales reached 65 million dollars in the previous year and these figures are expected to reach 80 million dollars for the current year. Behran Oil’s CEO also stated that the company profits were valued at 340 billion Tomans. This increase from past years can be attributed to the sale of lubricants helping the company experience a faster growth rate than the rest of the industry.

There are over 40,000 m3 of storage tanks dedicated to exports, moreover, Mr. Azizi boasted that Behran Oil owns 9 fuel (gas) stations which has in turn transformed the company in to a brand name. After the sanctions were lifted in recent years, international companies such as Shell and BP returned to the Iranian market, creating a healthy environment for competition once again. Behran Oil’s success can be attributed to its diverse basket of goods which has been responsive to the market’s needs at all levels. Mr. Azizi is hopeful that in the coming year production will increase to 50,000 tons based on precise planning and to reach this year’s company goal of “Resistive economy, production and job creation”.

Mr. Azizi stressed that Behran Oil’s most valuable asset is its human capital as well as the introduction of the latest technology. The final stages of a deal with foreign investors has been reached to obtain the necessary licenses for such technology. Mr. Azizi continued on to state that the company is in the midst of creating a new refinery which will supply Group I & II consumable base oils. This project has been in production for 3 years now and with the appropriate funding, it is expected to be completed 3 years from the start of the contract. Mr. Azizi continued to state that Behran Oil plans to expand its shares by 50 percent and this is expected to come from the shareholders upon further notice from the main shareholder.

Lastly, Mr. Azizi concluded that by improving the internal infrastructure of the company and its products, Behran Oil is moving towards self-sufficiency by using local oils for their refineries and factories instead of imported goods.