BAKU, Azerbaijan, December 7. In total, 480 trillion rials (about $1.13 billion) worth of petrochemical products were sold at the Iran Mercantile Exchange (IME) and the Iran Energy Exchange (IRENEX) in the first eight months of the current Iranian year (March 21 through November 21, 2023), said Abbas Gholami, an official of Iran's National Petrochemical Company (NPC), Trend reports.
Petrochemical products accounted for 34 percent of the total sales value in the mentioned exchanges, according to Abbas Golami.
The official added that the main share of petrochemical sales belonged to Persian Gulf Petrochemical Industries Holding, Petrochemical Investment Company (TAPPICO), Bakhtar Group Company, and Parsian Oil and Gas Development Group (POGDC).
The monthly sales of petrochemical products on the exchanges are:
- 1st month (March 21 - April 20): 32 trillion rials (about $75.6 million)
- 2nd month (April 21 - May 21): 55 trillion rials (about $130 million)
- 3rd month (May 22 - June 21): 58 trillion rials (about $137 million)
- 4th month (June 22 - July 22): 60 trillion rials (about $141 million)
- 5th month (July 23 - August 22): 70 trillion rials (about $165 million)
- 6th month (August 23 - September 22): 62 trillion rials (about $146 million)
- 7th month (September 23 - October 22): 72 trillion rials (about $170 million)
- 8th month (October 23 - November 21): 71 trillion rials (about $168 million)
Iran is one of the major producers and exporters of petrochemicals in the Middle East and Asia. The country aims to increase its petrochemical output and diversify its products in line with its economic development plans.
As reported, Iran’s petrochemical production capacity is currently 92 million tons per year and is expected to reach 95 million tons by the end of the current Iranian year (March 19, 2024).
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