Iran Petrochemicals Production to Rise by 10 Million Tons: Official

TEHRAN (Tasnim) – A senior manager of Iran’s National Petrochemical Company (NPC) for Development and Planning Affairs said the production of petrochemicals would increase by 10 million tons by the end of the current Iranian calendar year (March 20, 2024).

Based on the planning made in this regard, the production of petrochemicals will hit 80 million tons in the current year (started March 21, 2023) with a 10-million-ton hike, Hassan Abbasszadeh noted.

Speaking at the 14th edition of the International Conference of Petrochemical Industry in Tehran on Monday, he pointed to the upstream documents for the development of the petrochemical industry and stated that developing and completing value chain in the petrochemical sector, reducing crude-selling of petrochemicals and yielding foreign currency have been emphasized in the petrochemical industry.

He put the current number of complexes active in the of the country at 70, saying that these complexes produce 93 million tons of petrochemical products annually.

Stressing the revision of 8th Five-Year Socioeconomic and Cultural Development programs of the country in the petrochemical sector, Abbasszadeh stated that Iran has much to say in the world in the production of ammonia, ethylene and methanol.

Iran is second only to Saudi Arabia in production of basic petrochemical products, followed by Qatar, United Arab Emirates, Oman, Kuwait and Turkey, he added.