Iran’s Q1 petchem output up 7% yr/yr

June 27, 2021 - 16:24

TEHRAN- Petrochemical production has risen seven percent in Iran during the first three months of the current Iranian calendar year (March 21-June 21), compared to the same period of time in the past year, according to an official in the National Petrochemical Company (NPC).

Jalal Mir-Hashemi, the NPC’s director for the production control, put the three-month petrochemical output at 16.3 million tons, and highlighted that the petrochemical plants operated with a good capacity during this period, Shana reported.

With the measures taken and the sustainable supply of feed in the current year, the production of various products in petrochemical complexes has increased and while meeting the needs of domestic markets, the export programs have also been realized, Mir-Hashemi noted.

Emphasizing that Iran's petrochemical industry is one of the most important pillars of the country's development and the driving force of the economy, he said: “The main approach of the National Petrochemical Company is to complete the production chain, diversify the products, provide feedstock for domestic industries and increase the added value of the products in this industry.”

Mentioning the current year’s motto which is “Production: Support and Elimination of Obstacles”, Mir-Hashemi noted that the Iranian petrochemical industry is ready to achieve the goals of production growth in the current year.

"All conditions and infrastructure have been provided to achieve a leap in production in the Iranian petrochemical industry in the current year; with the measures taken this year, the idle production capacities of some existing complexes will also be revived,” he said.

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as the petrochemical export is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

According to Iranian Oil Minister Bijan Namdar Zanganeh, the country is currently producing nearly 70 million tons of petrochemical products annually and by the end of the industry’s second development leap, the country’s petrochemical production capacity is projected to reach 100 million tons per year.

The minister has pointed to the diversification of products, greater use of liquid feedstock, and land preparation, as some of the important factors to be taken into account for the future development of the petrochemical industry, and said: “In this industry, great work has been done in creating knowledge, indigenizing technologies, and cooperation with universities.”

The production capacity of Iran’s petrochemical industry is expected to be increased from 100 million tons to 133 million tons at the end of the third leap.

EF/MA

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