SHANA -- Iranian Minister of Petroleum Bijan Zangeneh said the country�s petrochemical production capacity would reach 92 million metric tons per year by 2021.

Addressing a ceremony to officially launch phases 13 and 22-24 of the major joint gas field, that was held in the presence of the Iranian President Hassan Rouhani in the southern city of Assaluyeh on Sunday, Mr. Zangeneh said Iran�s petrochemical production capacity stood at 27 million tons in 2013 which is currently 31 mt/y and would reach 92 mt/y by 2021.

He said the value of petrochemical products produced in Iran, based on 2011 prices, stood at $36 billion which was more than double the amount by 2021 compared with 2013.

Zangeneh also said that Iran�s Euro-4 gasoline output stood at 76 ml/d from nothing back in 2012. Also, Euro-4 gasoil production capacity was at 44 ml/d currently.

He said Iran�s oil production from West Karoon oilfields had increased 5 times compared to 2013.