Deputy minister: Production in Iranian petrochemical sector should continue

Business Materials 27 January 2020 15:45 (UTC +04:00)
Deputy minister: Production in Iranian petrochemical sector should continue

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov - Trend:

The problems of production facilities in downstream industry of Iran’s petrochemical sector should be investigated to ensure that production continues, Iranian Deputy Oil Minister and Executive Director of Iran’s National Petrochemical Company Behzad Mohammadi said, Trend reports referring to the company’s website.

Mohammadi made the remark at a meeting with executive directors of production facilities operating in the petrochemical sector.

The Iranian deputy oil minister noted that the company’s department for the development of the downstream industry is facilitating the activities of producers.

Mohammadi added that petrochemical facilities should deliver high quality products to companies and facilities operating in the downstream industry.

“The role of downstream industry is important in price regulation in the market, and if their problems are solved soon, the needed result can be achieved,” the deputy minister said.

There are plans to increase the current production volume from 66 million tons in Iran’s petrochemical sector to 100 million tons by March 21, 2022, and revenues - from $17 billion to $25 billion. At the same time, with the commissioning of 28 projects by 2026, production volumes in Iran’s petrochemical sector are expected to reach 133 million tons, while the revenues - $37 billion.