Iran produces 35mn tons of petrochemicals in seven months

TEHRAN, Nov. 23 (MNA) – Islamic Republic of Iran produced 35 million tons of petrochemical products in the seven months of the current Iranian calendar year (from March 21 to Oct. 22).

Despite tough sanctions imposed by the United States against Iran and also the outbreak of the coronavirus pandemic, COVID-19, Iran’s petrochemical output registered more than eight percent growth as compared to the last year’s corresponding period.

The petrochemical industry has the highest added value among other industries affiliated with oil and gas worldwide.

Since the petrochemical industry turns crude and raw materials into high-consumption and expensive products, it has the ability to yield and inject more income into the country.

The most important point is that not only petrochemical industry did not reduce its production volume despite US sanctions imposed on the country and also spread of COVID-19, but also it could register an eight price growth in the seven months of the current year (from Mar. 21 to Oct. 22).

In general, domestic petrochemical companies managed to produce 35 million tons of products in a seven-month period in the current year, some of which were used in downstream industries as feed-stock while the rest was exported.

It is worth mentioning that Iran’s petrochemical industry is considered as one of the most important pillars of the country’s development and also a driving force for various economic sectors.

MA/IRN84119833

News Code 166231

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