Azerbaijan, Baku, March 1 / Trend, A.Yusifzade /
Iran 's petrochemical production increased by 22 percent to 34 million tons during the first ten months of the current Iranian calendar year (March 21, 2010-January 20, 2011) ILNA reported quoting Iran's Deputy Oil Minister Abdolhossein Bayat as saying.
Iran produces 25.8 percent of petrochemical products of the Middle East and 2.4 percent of the global output.
Earlier Iran's minister of petroleum Masoud Mirkazemi said that by launching new petrochemical projects over the Fifth Five Year Development Plan up to 2016, Iran's petrochemical production capacity will rise to 95 million tons per year.
According to Petrochemical Commercial Company (PCC) Iran's petrochemical products exports hit 12.8 million tons worth $7.86 billion in the first eleven months of current Iranian calendar year started March 21, 2010.
Liquefied Petroleum Gas (propane and ethane) was the main item of petrochemical exports with 2.205 million tons and 18.25 percent of the total figure.
Heavy cut exports increased considerably during the last month and ranked the second largest petrochemical products export in terms of weight. The exports hit 1.776 million tons during the past eleven months sharing 14.7 percent of the petrochemical exports.
Methanol with 1.728 million tons and 14.3 percent of the exports was the third main item after Liquefied Petroleum Gas and heavy cuts.
Iran not only gained self-sufficiency in urea production but also succeeded to export 1.55 million tons of the products mainly to India, Pakistan, Vietnam, and China. Urea was the fourth main item in the petrochemical exports table.
Meanwhile the latest PCC's data show that petrochemical products have been exported mainly to Far East and Europe in the form of 3.511 shipments.
Petrochemical Commercial Company with 20 years of experience is the largest supplier of Iran's Petrochemical products to the international markets. It is also one of the major Middle-Eastern companies, which is involved in marketing and sales of petrochemical products to the domestic and overseas markets.