TEHRAN, Iran, June 9
Trend:
The production capacity of Iran's petrochemical industry has increased in the past eight years during the incumbent government term (2013-present) and is predicted to reach 130 million tons by 2025.
The Rouhani government has chosen to export oil products as an alternative for oil export. Statistics issued by Oil Minister indicate export of oil products had 460 percent growth, Trend reports citing IRNA.
Export of oil products has increased from 5 million tons in 2013 to 23 million tons in the last Iranian year (started March 20, 2020), while the value of Iran's petrochemical products was $15 billion than $10 billion of this sum has been exported in 2019.
One of the positive changes in production during this period was the completion of the Persian Gulf Star Refinery that would cut the country's reliance on gasoline imports and turned Iran into an exporter of gasoline.
The gasoline production capacity in Iran has reached 110 million liters per day by completion of the Persian Gulf Star Refinery that created an opportunity to export these oil products.
Expanding the production capacity of the petrochemical industry not only reduces imports but diversifies export products.