Iran's petrochemical production increasing

Oil&Gas Materials 23 February 2021 16:56 (UTC +04:00)
Iran's petrochemical production increasing

BAKU, Azerbaijan, Feb. 23

By Elnur Baghishov – Trend:

Iran's petrochemicals production was about 56 million tons during the first 11 months of the current Iranian year (March 20, 2020 through February 18, 2021), Iran's National Petrochemical Company’s (NPC) Production Control Manager Jalal Mirhashemi said, Trend reports citing the company’s website.

According to him, last Iranian year (from March 21, 2019 to March 20, 2020), production of petrochemical products in Iran exceeded 55 million tons.

Mirhashemi added that Iran's petrochemical production is projected to be about 61 million tons by the end of the current Iranian year (March 20, 2020). Thus, Iran's petrochemical production will increase by about 9 percent compared to last Iranian year.

“In addition, 2.1 million tons of urea were delivered to the agricultural sector in Iran within 11 months. This is 600,000 tons more than last Iranian year. About 2.4 million tons of urea are expected to be delivered to farmers by the end of the current Iranian year,” he said.

Iran is implementing two plans to increase the production of petrochemical products. According to the first plan, Iran's petrochemical production will increase from 66 million tons to 100 million tons per year, and the revenues from $15 billion to $25 billion until March 20, 2022.

According to the second plan, Iran's petrochemical production will reach 133 million tons per year and the revenues will reach $37 billion by March 20, 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.