BAKU, Azerbaijan, November 4. Iran's Petro-Farhang Oil, Gas, and Petrochemical Holding is pursuing several measures to achieve sustainable production and increase output, said Javad Zarepour, the head of the board of the holding, Trend reports.
The director stated that the holding consists of 16 companies and a petrochemical complex. These companies and complexes have prepared plans for maintaining and boosting production in the near future. According to the plans, the production of the holding’s subsidiaries will rise in the coming years.
“For instance, two companies of Iran’s Petro-Farhang Oil, Gas, and Petrochemical Holding—Sabalan Petrochemical Company and Kimia Pars Middle East Petrochemical Company—produced 277,143 tons of methanol in the 7th month of the current Iranian year (September 23 through October 22, 2022). The methanol production of the two companies increased by 131 percent, or, in other words, by 157,000 tons, compared to the same period last year,” he said.
In the 7th month, the production of methanol at the Sabalan Petrochemical Company amounted to 145,014 tons. The company used 97 percent of its production potential in the seventh month, he added.
Also, the methanol production of Kimia Pars Middle East Petrochemical Company amounted to 132,129 tons in the 7th month. The company used 88 percent of its production capacity in the seventh month.
Petro-Farhang Oil, Gas, and Petrochemical Holding was established in 2008. The holding invests in oil, gas, and petrochemical fields.
Iran’s Sabalan Petrochemical Company was established in 2010. The construction of the company’s plant cost $406 million. At present, the company has the capacity to produce 1.65 million tons of methanol per year. On average, the company's annual sales are reportedly to be $412 million.
Kimia Pars Middle East Petrochemical Company was established in 2015. The production of this company is 1.65 million tons of methanol per year.
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