3 May 2019 - 14:16
  • News Code: 288906
Iran Mulls Petchem Development in Caspian Sea Rim

TEHRAN (Shana) -- The head of Iran’s National Petrochemical Company (NPC) said that the company was considering development of projects in coastal regions of the Caspian Sea.

Addressing reporters on the sidelines of the 24th Tehran Oil Show, Behzad Mohammadi described the petrochemical industry as an efficient, strategic and effective sector in the country’s economy, adding that it was very significant in terms of revenue generation in the country.

He further stated that in Iran, the industry was deemed as an economic system rather than an economic firm, saying this is because of its impact on generation of revenue for the country.

The official said the sector received 25.3 million tons of feedstock from oil and gas refineries and NGL projects.

Iran’s total petrochemical output stands at 55 million tons per annum of which a portion is consumed domestically and the rest exported.

Furthermore, 31 million tons of salable items produced in the sector which are categorized as polymer, chemical and non-chemical products.

Mohammadi stated that Iran exports petrochemical products to over 30 foreign destinations in Europe and Asia.

News Code 288906

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