Baku, Azerbaijan, April 7
By Khalid Kazimov - Trend:
Iran's Deputy Oil Minister in Petrochemical Affairs Abbas Sheri Moqaddam has said that in the current Iranian fiscal year (which started March 21), the country's petrochemical output will increase by 10 million metric tons.
The boost in output will come as the result of increase in petrochemical units' feed in the upstream sections, he noted.
The official said that regulatory and financial support for petrochemical projects with 90 percent advancement are top on the petrochemical industry's agenda for the current year, SHANA news agency reported April 7.
Sheri Moqaddam further pointed out that in the last Iranian calendar year, Iran's first petrochemical road map was prepared which outlines the industry's development for an 8-year outlook in seven detailed chapters.
Sheri Moqaddam said March 20 that Iran's petrochemical production hit 44.4 million metric tons for the previous Iranian fiscal year.
The number shows an improvement of 10 percent compared to the preceding year, the official stated, adding that production efficiency also rose by 7 percent to reach 78 percent.
The huge share of petrochemical industry in Iran's $156-billion worth capital market demonstrates the importance of petrochemical industry in Iran's economy.
During the previous year Iranian calendar year, the country's petrochemical units faced an index drop at the capital market, due to uncertainty in getting the crude oil and gas price set for them by the government.