Iran earns USD 12b from petrochemical exports: Official

Iran has reaped USD 12 billion through exporting petrochemicals in the last Iranian calendar year which ended on March 20, a deputy oil minister says.

“During the last [Iranian calendar] year, despite certain problems, Iran’s petrochemical exports amounted to 16 million tons worth USD 12 billion, winning a significant share in [Iran’s] non-oil exports,” Abdolhossein Bayat said on Tuesday.

Bayat, who is also the managing director of National Petrochemical Company (NPC), added that extensive plans are under way for the country to facilitate petrochemical exports in the current calendar year.

“Last year, foreign countries increased their demand for a variety of [Iranian] petrochemical products. This is indicative of the significance of Iran’s petrochemical industry at the international level,” the official stated.

Bayat said nearly 60 countries, mainly from South and Southeast Asia, took delivery of Iran’s petrochemical products in the last Iranian calendar year.

Iran plans to establish three new petrochemical hubs in the near future, Bayat said, adding that the projects will turn Iran into the biggest petrochemical producer in the Middle East.

Iran has significantly expanded the range and volume of its petrochemical production over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

By Press TV


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