Iran's Nouri Petrochemical Company boosts its production
BAKU, Azerbaijan, September 1
By Elnur Baghishov – Trend:
The production of Nouri Petrochemical Company in the Pars Special Economic Energy Zone in the Bushehr Province (southern Iran) increased by 10 percent from the beginning of the current Iranian year (March 20, 2020) to August 18, compared to the same period last Iranian year, Managing Director of Nouri Petrochemical Company Taghi Sanei told journalists, Trend reports citing Shana news agency.
According to Sanei, the company produced 1.95 million tons of products during the same period.
Sanei added that this is 20 percent more than the company's production plan.
The director noted that the production was 112 percent more than company’s production plan in the last Iranian year (from March 21, 2019 to March 20, 2020).
He stressed that the company set a record for the production of benzene and paraxylene in the last Iranian year.
Last year, the Nouri Petrochemical Company produced 685,000 tons of paraxylene and 417,000 tons of benzene.
The director said that fuel accounts for more than 90 percent of the company's costs. Therefore, discussions are underway to reduce fuel prices by 5 percent. If the price is reduced, it is possible to give discounts to customers.
“The ammonia plant of the Hangam Petrochemical Company, purchased by Nouri Petrochemical Company, will be commissioned until beginning of next Iranian year (March 21, 2021) and the urea plant in 2022.
Sixty percent of the products produced by Iran's Nouri Petrochemical Company are exported and 40 percent sold on the stock exchange. The company produces 1.2 million tons of paraxylene, benzene and orthoxylene and 3.3 million tons of heavy and light hydrocarbons, heavy aromatic, LPG, pentane and light naphtha products annually.
Furthermore, it produces over 4.7 million tons of fuel per year, 4.5 million tons of which is gas condensate and is supplied from factories in the South Pars Gas Complex.
It is expected to build a heavy distillation unit at the enterprise with the investment of about $110 million-120 million. Commissioning of this project will contribute to production of crude low-sulfur fuel oil needed for ships.