BAKU, Azerbaijan, March 14. Iran's petrochemical production will increase by 7 percent in the current Iranian year (from March 21, 2023 through March 19, 2024) compared to the same period last year, Iran's deputy oil minister and executive director of the National Petrochemical Industries Company Morteza Shah-Mirzaei said, Trend reports.
According to Shahmirzaei, Iran's petrochemical production is expected to rise to 75 million tons this year. Last year, Iran's petrochemical production was 69.5 million tons.
The Deputy Minister noted that Iran was aiming to raise petrochemical production to 78 million tons in the current year.
This goal was not met, though, since several petrochemical plants did not have a steady supply of gas during the winter. Petrochemical facilities receive 77 million cubic meters of gas per day on average as feedstock.
Shah-Mirzaei noted that the total value of 75 million tons of petrochemical products will be 800 trillion rials (about $19 billion).
To note, Iran's petrochemical production potential currently stands at 92 million tons per year. It is expected that by the end of the current Iranian year (March 19, 2024), Iran's petrochemical production potential will rise to 95 million tons.
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