Providing feedstock to petchem units - priority for Iran

Business Materials 22 April 2017 11:48 (UTC +04:00)

Tehran, Iran, Apr. 22

By Mehdi Sepahvand, Fatih Karimov – Trend:

No country has as much petrochemical feedstock as Iran, Bijan Zanganeh, Iran’s oil minister said.

He made the remarks at the inauguration ceremony of the 13th edition of Iran Petrochemical Forum (IPF) in Tehran Apr. 22, Trend's correspondent reported form the event.

Zanganeh said that in the past petrochemical feed was mostly considered as a by-product of refineries, but now Iran is developing projects solely for feedstock such as Tang Bijar and Khami projects.

Iran’s petrochemical output registered a rise by 10 percent in terms of volume during the last fiscal year, ended March 20, thanks to allocating more feedstock to petrochemical units.

Zanganeh further said that the ministry gives a 20-percent discount on feedstock provided to petrochemical units.

Elsewhere in his remarks Zanganeh said that international sanctions prevented Iran to obtain the new technology for turning methane into olefin including oxygenate to olefin(OTO), methanol-to-olefins(MTO) and etc.

“Now we need to develop these projects,” he underlined.

The 13th edition of Iran Petrochemical Forum hosts over 100 participants, representing 74 foreign companies from 18 countries including France, Britain, Denmark, Germany, India, Bahrain, Lebanon, Norway, Romania, Turkey, Singapore, Switzerland, Belgium, Japan, the Netherlands, Taiwan, Italy, and the United Arab Emirates.

With the motto of “Bringing the World of Petrochemicals Together” the two-day event opened in Tehran on April 22.

Iran's Sixth Five-Year National Development Plan (2016-2021) has envisaged attraction of $40 billion investment to the petrochemical sector.

In this regard, National Petrochemical Company (NPC) of Iran and private petrochemical companies are making their most efforts to take necessary measures for attracting foreign companies to invest in the country.