TEHRAN, Iran, Sept.10
Trend:
Iran's share with regards to trade of petrochemicals in Middle East has increased, said director of planning and development in the National Petrochemical Company of Iran Hassan Abasszadeh, Trend reports citing IRNA.
Abasszadeh has indicated that Iran's share was 20.2 percent in 2019 that had increased to 22.1 percent in 2020.
He noted that about 70 percent of Iran's manufactured petrochemical products are being exported to the world and the country's exports have increased from 5.3 percent in 2019 to 5.9 percent in 2020.
Abasszadeh indicated that Iran currently has the production capacity of 30 million tons of basic petrochemical products such as methanol, olefin, ammonium, aromatic, allowing the country to rank second biggest petrochemical producer in the Middle East after Saudi Arabia.
The official noted that the estimated annual production capacity of Iran is to increase to 95 million tons by the end of current Iranian year (started March 21,2021).