Iran's petrochemical production to increase

Oil&Gas Materials 30 June 2020 19:31 (UTC +04:00)
Iran's petrochemical production to increase

BAKU, Azerbaijan, June 30

By Elnur Baghishov – Trend:

Iran's petrochemical production will increase by about 25 million tons in the current Iranian year (began March 20, 2020), Deputy Oil Minister, Executive Director of Iran’s National Petrochemical Company Behzad Mohammadi said, Trend reports citing the company’s official website.

The deputy minister emphasized that 17 petrochemical facilities on petrochemical sector will be commissioned in the current Iranian year with an investment of $11.5 billion.

Mohammadi added that thus, Iran's petrochemical production potential will increase to 90 million tons by the end of the year.

“Seven of the mentioned facilities are in Asaluyeh county of Bushehr Province (southern Iran). One of the facilities will produce 7,000 tons of methanol per year,” he said.

The director said that construction and supply had been delayed due to the spread of the coronavirus in Iran.

Iran currently produces 66 million tons of petrochemical products a year. It is planned to increase this production to 100 million tons and the country's revenues from $17 billion to $25 billion until 2022. At the same time, it is planned to increase production to 133 million tons and revenues to $37 billion in Iran’s petrochemical sector until 2026.

Iran produced 31 million tons of petrochemicals last Iranian year (March 21, 2019 - March 20, 2020). Of these, 8 million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.