TEHRAN- The Deputy Oil Minister and Managing Director of the National Petrochemical Company, announcing that through efforts made, about 38 percent of the petrochemical industry capacity that had been lost or affected has returned to production, said: Today, the market for polymer and plastic products has reached relative stability, and even for some products, in the current situation, production exceeds domestic demand.

According to IRNA's report from the Oil Ministry, Hassan Abbaszadeh, referring to the damage inflicted on the petrochemical industry in the attacks by the American-Zionist enemy during the third imposed war, stated: First, we must honor the memory of six of our dear colleagues who were martyred during this war.

Referring to the fact that part of the war damage related to gas refineries, which affected part of the petrochemical industry's feedstock including natural gas and gas condensates, he added: Some ancillary facilities of the petrochemical industry were directly attacked, and power plants responsible for supplying electricity and steam to petrochemical complexes were targeted, and part of the electricity and steam production capacity was affected.

The Deputy Oil Minister clarified: Also, some production units of the petrochemical industry were directly hit and taken out of the production cycle.

* Priority: supplying needs of people and downstream industries

Abbaszadeh, stating that immediately after these incidents, recovery and reconstruction committees began their activities, said: The goal of these committees was maximum use of available facilities, utilization of scattered steam supply resources, as well as supplying electricity from existing capacities of the oil industry, power plants connected to the grid, and the energy exchange, so that petrochemical companies could return to the production circuit as quickly as possible, with priority given to meeting the needs of the people and downstream industries.

Announcing that through efforts made, about 38 percent of the capacities that had been lost or affected have returned to production, he said: A short-term two-month program has been defined for the first stage of recovery, the first phase of which will be pursued until the end of Khordad (mid-June). We hope that in subsequent stages, more companies will gradually return to the production circuit.

* Increasing trend of petrochemical product supply in market

The Managing Director of the National Petrochemical Company emphasized: All efforts are based on supplying the needs of domestic industries. To this end, a report for controlling and managing the petrochemical products market was presented at this week's meeting of the Market Regulation Headquarters chaired by the First Vice President.

Abbaszadeh, noting that the supply of petrochemical products has increased in recent weeks, emphasized: With increased supply, the level of competition on the commodity exchange has decreased, and it is expected that with the re-operation of some companies in recent weeks and the supply of their products, more calm will prevail in the market for these products.

Emphasizing that double control and monitoring of warehouses and the supply of petrochemical products to the market is underway, he said: The level of competition on the exchange has decreased, and we hope that final products will be available to consumers at more appropriate prices.

* Experience of 12-day war and preparedness for critical conditions

The Deputy Oil Minister, referring to the experiences gained from the 12-day war last year, stated: Valuable strategies were extracted from that period and placed on the agenda. One of the most important actions was determining the list of priority products and companies in cooperation with the Ministry of Industry, Mine and Trade, so that under any circumstances, it would be possible to supply their required raw materials through the commodity exchange.

Abbaszadeh continued: In addition, backup companies had been identified for emergency situations; meaning that if an incident occurs in the main production areas such as Assaluyeh or Mahshahr, other complexes could take over the production of substitute products.

Stating that before the war began, storage warehouses for many strategic and priority products had been anticipated inside and outside operational areas, he clarified: Part of these reserves were kept in petrochemical warehouses and part in consumption cities, and sufficient reserves for several months had been considered for each product.

* Polymer and plastic market has reached relative stability

The Deputy Oil Minister, referring to the situation of polymer products during the war, said: The polyethylene production chain was not damaged during the war. However, in the early days after the attacks, concerns arose in society and among downstream industry activists about the future of petrochemical industry production, and a kind of turbulence was created in the market.

Abbaszadeh, announcing that through continuous meetings with associations and downstream producers and explaining the reconstruction plans, these concerns have been largely resolved, emphasized: Some complexes that were not damaged immediately began production, and products stored in warehouses were offered on the commodity exchange.

He clarified: Today, the market for polymer and plastic products has reached relative stability. Even for some products, in the current situation, production exceeds domestic demand.

* Export of products surplus to domestic market needs

The Managing Director of the National Petrochemical Company, stating that after the ceasefire, temporary restrictions were imposed on the export of some products to fully meet domestic demand, said: But now, for some products that have surplus production and warehouses are full of them, export permits have been reissued. Of course, for products that still face supply limitations, the export ban remains in place.

Abbaszadeh, referring to the process of petrochemical complexes returning to the production circuit, stated: In just this past week, two major petrochemical complexes have returned to the production circuit. This process will continue, and other companies will gradually resume their activities, which will result in greater calm in the market.

In conclusion, emphasizing that we have made a pledge with our colleagues to stand by the people and for this land, he said: Many petrochemical industry employees remained at their workplaces despite enemy attacks to protect production units and national assets of the country.

The Deputy Oil Minister recalled: I kiss the hands of every single colleague who stood firm in these difficult circumstances, and I hope we can continue to serve the people and the country with all our might.

EF/MA