‘U.S. sanctions won’t affect Iran’s petchem exports’

April 28, 2019 - 19:56

TEHRAN - General Secretary of Iran's Association of Petrochemical Industry Corporation (APIC) said on Saturday that U.S. sanctions are not going to have any significant impact on Iran’s petrochemical exports.

“The mechanisms of petrochemical exports differ significantly from oil exports and therefore U.S. sanctions will have no impact on the production and export of petrochemicals.” Mehr quoted Ahmad Mahdavi Abhari as saying.
The official noted that considering the reduction in exports of gas condensate, more feedstock may be injected into the petrochemical industry.
Consequently, both production and exports of petrochemicals will experience significant growth in the current year (started March 21, 2019), he said, adding, “New petrochemical units will come on stream in the current year in line with increasing production volume.”
The official emphasized that currently the country’s petrochemical industry is not facing any problems regarding feedstock.
Turning to the exports destination of petrochemicals, Mahdavi said, “Many countries in the world seek Iran’s high-quality petrochemicals, the most important of which include neighboring countries, China, India, Southeast Asian countries and even European nations.”
Petrochemical industry is one of the most important pillars of Iran’s economy and one of the main suppliers of foreign currency especially euro for the country.
According to Iranian Oil Minister Bijan Namdar Zanganeh, the country is currently producing 62 million tons of petrochemical products annually and with the new projects going on stream the number is expected to jump to 65.5 million tons further cementing the Islamic country’s stance as a major petrochemical supplier to the world markets.
In September 2018, Iranian President Hassan Rouhani inaugurated three major petrochemical projects in Assaluyeh petrochemical zone in southwestern Iran.

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