Iran’s petrochemical exports flat, revenues go up
Baku, Azerbaijan, July 17
By Dalga Khatinoglu – Trend:
Iran’s petrochemical products export volume remained flat at 5.101 million tons in the first quarter of current fiscal year, started on March 21, while the revenues increased by 9.1 percent to $2.497 billion.
Coming to the domestic sales, both the volume and revenue increased by 3 percent and 37.7 percent respectively in first quarter of the current fiscal year, compared to the same period of last year, the statistics of an official document, prepared by Iran’s National Petrochemical Company and seen by Trend, indicate.
Iran sold 4.146 million tons of petrochemical products (including the selling products between plants to be used as feedstock) with worth 83.07 trillion rials ($2.145 billion). The net domestic petrochemical products sale stood at 1.848 million tons with worth $1.144 billion.
Iran produced 13.53 million tons of petrochemical products, of which 2.297 million tons was used as feedstock in other plants. Then, its final amount stood at 11.239 million tons in the first quarter of the current fiscal year.
Iran has planned to produce 58.95 million tons of petrochemical products in the current fiscal year, 8.35 million tons more than the last fiscal year.
The document also named 56 new petrochemical projects under development with 58.412 million tons /year of nominal capacity.
Iran plans to inaugurate seven petrochemical plants in the current year and 23 more next year. Iran needs $20 billion of further investment in order to double the production capacity by 2022 and $35 billion more to increase the figure to 150 million tons /year by 2025.
Iran’s nominal petrochemical production capacity stands at 73 million tons per year.
The country’s petrochemical sector is one the country’s rapidly growing industrial sectors, which experienced a 7-percent growth in nominal capacity during the last fiscal year.
Iran’s actual production level during the previous year (2014/2015) also was 46.41 million tons.
The country’s net sales of petrochemical products, that is, excluding sales to domestic plants as feedstock, were 27.584 million tons, including 20.39 million tons of exports during the last fiscal year.
Dalga Khatinoglu is the head of Trend Agency’s Iran news service, follow him on Twitter: @dalgakhatinoglu