Tehran to host international exhibition on oil, gas, and petrochemical industries

Business Materials 27 March 2013 17:18 (UTC +04:00)

Azerbaijan, Baku, Mar.27/ Trend G.Mehdi/

The 18th international exhibition of Iran on oil, gas, and petrochemical industries will be held during April 11-14 at the Tehran Permanent International Fairgrounds, ISNA reported.

Last year, 940 Iranian companies and 315 foreign companies from 44 countries attended the exhibition. In November 2012, IRIB quoted National Petrochemical Company Managing Director Abdolhossein Bayat as sayingю

Bayat also said that as much as $80 billion in investment opportunities have been identified in both the upstream and downstream sectors of the Iranian petrochemical industry, which is taking great steps toward development.

China and countries in Western Europe are the main recipients of Iran's petrochemical exports, followed by countries in Southeast Asia, the Middle East, the Indian subcontinent, Africa, and Latin America, he noted.

Iran is seeking new markets for its petrochemical products. Toward this end, the NPC has been identifying new export targets for the past two years, and boosting exports of polymer products is on the agenda.

In April 2012, Bayat said that Iran exported $14 billion worth of petrochemical products to 60 countries during the previous Iranian calendar year (March 2011-March 2012).

He added that $10.5 billion of oil revenues will be allocated for the development of the national petrochemical industry.