Iran’s petrochemical exports hit 19 million tons

Business Materials 4 April 2016 15:44 (UTC +04:00)

Baku, Azerbaijan, Apr. 4

By Fatih Karimov - Trend:

Iran's petrochemical exports reached 19 million tons, worth 9.5 billion in the last fiscal year (ended March 20), Ali Mohammad Bosaqzadeh, an official with Iran's National Petrochemical Company said.

Bosaqzadeh said that over 46 million tons of petrochemical products were produced in the country in last fiscal year, 2.5 million tons more year on year, IRIB news agency reported April 4.

The output was equal to 80 percent of Iran's petrochemical output capacity, he added.

The official further said that about 14 million tons of petrochemicals, worth 241 trillion rials were sold at the domestic market (1 USD = 30,269 rials based on official rate).

Over 45.8 million cubic meters of gas as feedstock were supplied to the petrochemical units on a daily basis in last fiscal year, compared to 43.7 million cubic meters of feedstock per day in the preceding year.

Iran's petrochemical output hit 44.4 million tons in the Iranian fiscal year to March 2015, 10 percent more year-on-year. Petrochemical plants in Iran had to work below the actual production capacity due to the shortage of natural gas as feedstock, old production units and the sanctions, which has caused a decline in exports.

The country's petrochemical output capacity currently stands at 60 million tons. The Islamic Republic hopes to bring this capacity to 120 million tons by 2020 and 180 million tons by 2025.