20 April 2022 - 15:48
  • News Code: 455948
NPC CEO Invites Russian Firms to Join Petchem Projects in Iran

TEHRAN (Shana) -- The CEO of the National Petrochemical Company considered the feedstock available for the development of the petrochemical industry in Iran as an important advantage, and said: "I invite Russian companies to exploit this suitable opportunity to invest in the Iranian petrochemical industry."

According to the National Petrochemical Company, during a meeting on the sidelines of the 21st Russian Oil, Gas and Petrochemical Exhibition on Monday, April 18, Morteza Shahmirzaei called it important to hold such events to expand cooperation between Iran and Russia.

He noted that there are 5,600 kilometers of coastlines in the north and south of the Islamic Republic of Iran, and added: “The existence of numerous ports on these coasts has provided and facilitated the exchange of products and activities of oil, gas, petrochemicals and other industries for the country.”

The CEO of the National Petrochemical Company continued: “Iran sits atop more than 159 billion barrels of oil reserves and about 33 trillion cubic meters of natural gas.”

Shahmirzaei, stating that currently one billion cubic meters of gas is bring produced on a daily basis in Iran and its crude oil production capacity is about 4 million barrels per day, said: “Part of this output is consumed as feedstock for Iran's petrochemical industry.”

He considered access to abundant feedstock backed by these oil and gas reserves as a unique advantage for the development of the petrochemical industries in Iran, and said: "I invite the companies present in this exhibition to take advantage of these opportunities to invest in petrochemical projects and other projects.”

News Code 455948

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