Shana

Gov’t prioritizes petrochemicals through utility pricing oversight

SHANA (Tehran) – The CEO of PetroFarhang Holding said the transfer of utility pricing arbitration to the National Petrochemical Company underscores the 14th Government and Ministry of Petroleum’s special attention to the petrochemical sector and the private industry. He added that stable and fair utility pricing fosters trust among private investors.

Iran’s petchem industry: 79 plants with 100m tons of nominal capacity

SHANA (Tehran) - Iran’s petrochemical industry, operating 79 production complexes, has reached a nominal production capacity of more than 100 million metric tons per year, emerging as one of the main pillars of the country’s non-oil economy. The expansion reflects years of investment in major petrochemical hubs and the gradual development of new industrial zones.

Petrochemical feedstock secured through flare gas recovery

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) said the Oil Ministry under the 14th administration has developed and is implementing medium-term plans to offset idle capacity and ensure a stable supply of feedstock for the petrochemical industry, with large-scale investment in flare gas recovery among the most important measures.

A 47-year record: How petrochemical industry became a driver of non-oil economy

SHANA (Tehran) - Over the past 47 years, Iran’s petrochemical industry has gradually moved away from crude oil and gas sales and emerged as one of the country’s main engines of non-oil economic growth. With production capacity expanding more than 33-fold, exports rising sharply and export value increasing nearly 194 times, the sector now plays a central role in generating sustainable foreign currency revenue, completing value chains and strengthening the economy against volatility in global oil markets.

Phase 2 of Bushehr Petrochemical Plant begins operations

SHANA (Tehran) – The olefin, monoethylene glycol, and offsite utility units of the Bushehr Petrochemical Plant, representing a total investment of $1 billion, were inaugurated by order of the president.

Petchem industry reaches 100-million-ton mark, celebrates new projects

SHANA (Tehran) – The CEO of the National Petrochemical Company announced the operational launch of several major production and infrastructure projects in the petrochemical industry, coinciding with the Ten Days of Fajr celebrations. He stated that with these inaugurations, the industry can celebrate reaching an annual production capacity of 100 million tons.

Sovereign ruling seen as bolstering stability of petchem industry

SHANA (Tehran) — The head of National Petrochemical Company said a sovereign ruling granting the company authority to set prices for ancillary services followed months of consensus-building and regulatory efforts and is expected to help stabilize the strategic industry and its role in the national economy.

1,700 NTBFs partner with NPC

SHANA (Tehran) – More than 1,700 new technology-based firms (NTBFs) and domestic manufacturers are now working with Iran’s petrochemical industry, with more than 120 trillion rials ($12 trillion tomans) allocated last year to expand these capabilities, an industry official said.

NPC: Balanced development of petchem industry must be a priority

SHANA (Tehran) – The CEO of National Petrochemical Company emphasized that balanced development in the industry should be considered as a priority and stated: ‘For the first time in five-year plans, targets have been quantified in the Seventh Development Plan (2024-28) to complete four chains with quantity targeting. Currently, annual programs for the petrochemical industry are being planned in line with achieving these goals.’”

Petchem production, exports rise in first eight months of 1404

SHANA (Tehran) – The head of the National Petrochemical Company said petrochemical production and exports increased in the first eight months of the current Iranian year despite constraints caused by wartime conditions.

Petrochemical industry plays key role in national economy, oil minister says

SHANA (Tehran) – Oil minister underscored the petrochemical industry’s pivotal role in the national economy, saying the sector is vital to foreign currency earnings, job creation and completing the value chain and that its issues should be pursued through a joint task force.

Paknejad: Petrochemical investment in gas fields key to securing feedstock

SHANA (Tehran) – Oil minister emphasized the petrochemical industry’s role as a key economic driver, saying one way to ensure a stable supply of feedstock is for petrochemical companies themselves to invest in developing gas fields—an approach that has been welcomed and is supported by appropriate legal frameworks.

Petchem industry a symbol of national self-reliance

SHANA (Tehran) – The petrochemical industry, relying on domestic capabilities and the completion of value chains, plays a key role in creating added value, generating employment and supplying foreign currency for the country, Iran’s deputy oil minister said.

Supporting domestic manufacturers, a national strategy for petrochemical industry

The head of research, technology and domestic manufacturing at the National Petrochemical Company (NPC) said greater use must be made of the private sector’s dynamic capacity to manufacture equipment for the oil industry, stressing that support for domestic manufacturers and self-sufficiency in producing equipment and parts needed by the petrochemical sector is being strengthened as a national strategy.

Oil engineers association head:

Focus on 20% of activities can deliver 80% of value

SHANA (Tehran) — Focusing on key priorities is essential to boosting value creation in Iran’s oil industry, the head of the Iranian Oil Engineering Association said, citing the 80-20 rule.

Petchem industry from 1964 to 2025: A clear path of development

SHANA (Tehran) – Coinciding with the eighth of Dey (December 29), National Petrochemical Industry Day, the CEO of the National Petrochemical Company reviewed the 61-year history of the industry and examined its key milestones across three phases—“the beginning,” “the period of maturity,” and “the current stage.” He said that, fortunately, a roadmap for the petrochemical industry has been prepared through the end of the Eighth Development Plan and even for a 25-year horizon beyond that.

Petrochemicals emerge as a key driver of wealth creation

SHANA (Tehran) – A presidential adviser said Iran’s petrochemical industry could become one of the country’s main engines of wealth creation and economic growth by easing investment procedures, cutting red tape, tapping small-scale foreign currency investments and leveraging the capacity of new technology-based firms.

Petrochemical firms return 98% of forex to economy

SHANA (Tehran) – Iran has recovered more than 98% of foreign currency earnings from petrochemical companies, the deputy oil minister for petrochemical affairs said, noting an improvement from last year.

Petrochemical industry accounts for about 8% of GDP

SHANA (Tehran) – The petrochemical industry accounts for about 7% to 8% of the country’s gross domestic product, while nearly 30% of Iran’s non-oil exports come from the sector, an official said.

Petchem projects under Seventh Development Plan about 60% complete

SHANA (Tehran) – The head of the National Petrochemical Company (NPC) said petrochemical projects under Iran’s Seventh Development Plan are about 60% complete and that all targets set for the plan’s first year were fully achieved in 1403.

Petchem firms lead in process safety management

SHANA (Tehran) – Petrochemical companies have taken the lead in implementing process safety management systems, and the approach should be expanded across the oil industry, the Oil Ministry’s HSE chief said.

HSE decisions must be made in an integrated manner

SHANA (Tehran) — The CEO of the National Petrochemical Industries Company (NPC) described health, safety and environment (HSE) as an organizational value and said decisions in this area must be made in an integrated manner and aligned with national interests.

RIPI ready to help meet Oil Ministry goals under Seventh Development Plan

SHANA (Tehran) – The head of the Research Institute of Petroleum Industry said the institute is prepared to play a key role in meeting the Ministry of Petroleum’s commitments under Iran’s Seventh Development Plan by linking research to technology and production.

Petrochemicals play key role in boosting non-oil exports

SHANA (Tehran) – The secretary-general of Iran’s Petrochemical Industry Employers Association said activating idle capacity in the petrochemical sector is critical to economic growth, noting that under the country’s Seventh Development Plan, non-oil exports must rise by 23% annually and the industry can play a major role in achieving that target.

Half of required petchem investment secured under Seventh Development Plan

SHANA (Tehran) – The head of the National Petrochemical Industries Company said about half of the investment needed for petrochemical projects under Iran’s Seventh Development Plan has been secured, underscoring the strategic importance of the value-creating industry.

Petchem firms invest to manage gas use, secure stable feedstock

SHANA (Tehran) – The head of the National Petrochemical Industries Company said petrochemical companies are focusing on cutting natural gas consumption in three northern provinces, a move expected to reduce usage by about 2 million cubic meters per day during the months-long program and help ensure a stable supply of feedstock.

Petrochemical sector targets 260 mcm cut in gas use

SHANA (Tehran) – The National Petrochemical Industries Company has set a target to cut natural gas consumption in Iran’s petrochemical sector by 260 million cubic meters, its energy optimization director said, stressing the effort is aimed at preventing waste rather than reducing public welfare.

Gas deliveries to petchem industry up 19.4%

SHANA (Tehran) – The head of the National Iranian Gas Company said gas deliveries to the petrochemical industry rose 19.4% above the company’s commitments despite the onset of colder weather this fall.

PGPIC reports 7% production growth

SHANA (Tehran) – The CEO of Persian Gulf Petrochemical Industries Company (PGPIC) said the company’s production rose 7 percent last year as a result of research and development investments. He added that technology and innovation generated 590 trillion rials in additional operating revenue and cut operating costs by 180 trillion rials.

Aging petchem plants risk losing global competitiveness without upgrades

SHANA (Tehran) – Mahmoud Aminnejad, deputy for development and business at Persian Gulf Petrochemical Industries Company, said that continuing to operate Iran’s 60-year-old petrochemical units without modernization and technological upgrades will push them out of the global competitive cycle and even make them unprofitable.