Iran petchem revenues to increase 80% in 2020

TEHRAN, Aug. 04 (MNA) –Referring to the 60% growth of petrochemical capacity, the Deputy Oil Minister said that the revenue of the oil industry will increase to 80% in 2020.

Behzad Mohammadi said that this is a golden year for the petrochemical industry, announcing "17 petrochemical projects will be put into operation in the current year, which will increase the petrochemical capacity by 60%."

"The operation of these projects will increase the income of the petrochemical industry by 80%", he added.

Referring to the current production of propylene in the country which is 950 thousand tons per year, he said "by increasing the products such as propylene and identifying its market, we are trying to make the petrochemical industry qualitative.

According to the official, propylene accounts for 5% of Iran's petrochemical production portfolio that by implementing the projects this share will reach 10% by 2025

It is worth mentioning that this number is 17% in Saudi Arabia, 18% in the United States, and 16% in the world.

RHM/IRNA83894804

News Code 161810

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