Iran’s petrochemical output to reach $40b: Oil Minister

Iran’s Oil Minister Bijan Zanganeh said in the inauguration ceremony of several oil-related plans that Iran’s petrochemical output would reach 40 billion dollars in 2027.

Zanganeh said that the required feed for the super projects launched as part of Iran’s so-called ‘third surge’ plan to increase petrochemical output capacity has been supplied and executives have been selected.

He added that the Government promised to hit 25 million tons of petrochemical output in 2020 and it kept its promise despite the coronavirus pandemic and the impediments caused by US sanctions.

Iran’s ‘second surge’ in petrochemical products is in the final stages, the Oil Minister said, and the ‘third surge’ projects are moving forward at full capacity so that petrochemical output capacity would reach 40 billion dollars by 2027.