ECONOMY   Oil   Petrochemical  

Iranian petrochemical production rises 6%

The output of Iranian petrochemical production units in the first 50 days of the current Iranian calendar year (started on March 19) increased by six percent compared to the previous year’s same period, Shana reported.

According to Jalal Mirhashemi, National Petrochemical Company (NPC)'s production control manager, the country’s petrochemical complexes are producing with a desired capacity, and many complexes have shown production growth since the beginning of the current year.

He said that Iran's petrochemical industry is ready to realize the surge in production intended for the current year, adding that in addition to launching and operating new projects, the existing idle capacity of some complexes will also be used with the measures taken.  

The petrochemical industry is one of the most important pillars and the driving force of development for various sectors of the country's economy, he stressed.

In late December 2019, President Hassan Rouhani had stressed the significant role of the petrochemical industry in the country’s economy in the face of U.S. sanctions, saying that it is at the forefront of the country’s non-oil exports.

Later in April 2020, Oil Minister Bijan Namdar Zanganeh said 17 new petrochemical plants are planned to be inaugurated across the country during the current Iranian calendar year.

The current Iranian calendar year (began on March 20) is named as the year of “Surge in Production” by the Leader of Islamic Revolution Seyed Ali Khamenei.

Petrochemical industry is playing a crucial role in Iran's non-oil economy, so that based on official data, petrochemical exports constitute the second largest hard currency earner in Iran after crude oil. Petrochemical exports already make up nearly 33 percent of the country’s non-oil exports.

News No: 9511
Date: 2020/05/17 - 19:34
News Source: TehranTimes

Petrochemical industry  crude oil  non-oil economy  Bijan Namdar Zanganeh 


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