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Petrochemical exports up by 10%

News ID: 3959324 -
TEHRAN, Apr. 22 (MNA) – Bijan Zanganeh said, with increased supply of feedstock last year, production and exports of petrochemical products surged by 10 percent in weight.

Speaking at the opening ceremony of the 13th International Iran Petrochemical Forum (IPF 2017) on Saturday morning in Tehran, Iranian Minister of Petroleum Bijan Zanganeh said the country’s petrochemical industry held a bright future as evidenced by the presence of foreign countries in the era which has emerged following implementation of the Joint Comprehensive Plan of Action (JCPOA).

“Output volume of petrochemical products rose by eight million tons last year,” stressed the official noting that the government was looking for a second leap in the industry by development of research and technology and choice of appropriate regions as well as reviewing existing capacities.

He said feedstock was the most important element in petchem industry asserting “no other country rivals Iran as regards supply of sufficient feedstock to petrochemical units since all required materials have been manufactured or will soon become available.”

Iran’s oil minister said 480 thousand barrels of gas condensate are transferred to Siraf Petrochemical Complex on a daily basis for 11 million tons of sweet oil to be produced.

Zanganeh further maintained that ownership and implementation of numerous NGL projects had been transferred to the private sector as well as that flare gases are currently being delivered to investors and industry practitioners for free.

“Six projects worth 40 billion dollars have been designed and require both domestic and foreign sources,” he continued.

The official invited investors to visit Assaluyeh and Bandar Emam regions asserting “long-term tax exemptions are one major advantage of the Iranian petrochemical industry.”

Bijan Zanganeh went on to stress that the government was after sustainable employment and extend public ownership in the petrochemical industry for which new means are required.

He said the National Petrochemical Company (NPC) was creating new utility units and intended to develop Bandar Emam and Assaluyeh regions.

He called for attention to development of product chains as well as downstream products concluding that “exports are not the country’s only priority; however, the sector is being well managed by the private sector and there exists no limitations to supply of propane and butane to petchem units.”

National Petrochemical Company (NPC) of Iran is holding its 13th International Iran Petrochemical Forum (IPF 2017) with collaboration of Iranian Inc. for Contemporary International Conferences & Fairs (IICIC), on 22-23 April 2017 at IRIB Int'l Conference Center in Tehran, Iran.

The two-day event will bring together leading global players in various fields of the petrochemical industry where they can explore major challenges facing the industry. IPF 2017 will focus on some of these challenges and needs including sustainable use of hydrocarbon resources, shortage of feedstock especially natural gas, competitive solutions and state-of-the-art technologies to maximize returns and to diversify and enrich the value chain.

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