Abbas Sheri Moqaddam

Iran holds 21% of ME petrochemicals market

Tehran, Oct 19, IRNA – Managing Director of the National Petrochemical Industries Company (NPIC) said 21% of the petrochemicals market in the Middle East belongs to Iran.
Stressing that at present Iran has no difficulty in export of petrochemicals, Abbas She’ri Moqaddam added that in the past direct exports to Europe had been halted and thus target markets for Iranian petrochemicals had changed direction towards Asia, East Asia and the Middle East.

Pointing to the 21% share of Iran from petrochemicals market in the Middle East, he said efforts are underway to add 67 semi-finished projects into the industry within the next five years and thus boost Iran’s share in this regard.

The deputy oil minister said between the years 1384 and 1392 (2005 to 2013) over 90% of the shares of NPIC subsidiary companies, worth some 400 thousand billion rials, were transferred to the private sector.

By IRNA

 

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