Iranian MP calls on government to stop raw-selling of petrochemicals

Photo: Iranian MP calls on government to stop raw-selling of petrochemicals
 / Iran

Azerbaijan, Baku, Oct.4/ Trend R.Zamanov

Chairman of the parliament's Petrochemical Committee Moayyed Hosseini Sadr said that raw-selling accounts for half of Iran's total petrochemicals exports.

"Iran annually exports 40 million tons of petrochemicals either raw or semi-raw," the Pana News Agency quoted Moayyed Hosseini s saying.

"Iran needs to boost its petrochemical facilities in order to stop raw-selling and making more profit through added-value," he said.

Based on the fifth five-year development plan the country needs to boost its petrochemicals production capacity up to 100 million tons per year.

Iran has exported $8.2 billion worth of petrochemicals, gas condensates, polymer products, and liquid gas in the first six months of the current Iranian calendar year, which started on March 21.

Tehran plans to export 17.4 million tons of petrochemicals worth around $13 billion by the end of the current Iranian calendar year (March 20, 2014).

Based on the latest report released by Iran's Custom Administration, Iran has exported $4.841 billion worth of petrochemicals and polymer products to 60 countries in the mentioned period.

According to the report, Iran exported $3.385 billion worth of condensates in past six months.

Iran seeks to increase its annual petrochemical exports to $40 billion in near future.

Iran exported 14.4 million tons of petrochemical products worth 10.1 billion dollars in the previous calendar year (which ended March 20).

The figure shows 32 and 33 per cent increase in terms of weight and value respectively, compared to its preceding year, the Mehr News Agency reported.

The country exported 2.155 million tons of tar worth 1.09 billion dollars in the previous year, which was 46 per cent more than its preceding year.
Iran's current petrochemical production capacity stands around 60 million tons.

Iran's petrochemical exports to China and African countries are on the rise.

China's imports currently accounts for 27.2 per cent of Iran's total exports. Europe with 6.5, Africa with 6.2, Middle East with 31.3, Far East with 18.5, and India with 10.3 are the other major destinations for Iranian petrochemicals

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Tags: Iran