More Feedstock under way for Petchem Plants: Zangeneh

More Feedstock under way for Petchem Plants: Zangeneh
(Sunday, May 6, 2018) 23:46

TEHRAN (NIPNA) -- Iranian Minister of Petroleum Bijan Zangeneh said the ministry had planned to increase the supply of ethane as feedstock to petrochemical plants during the current Iranian calendar year which began on March 21.

Addressing the opening ceremony of the 23rd Iran International Oil, Gas, Refining and Petrochemical Exhibition at Tehran on Sunday, the official said that plans are under way to ramp up ethane supply to petrochemical plants running on the item during the current year.

He said new phases of the supergiant South Pars gas field are expected to come on-stream during the current calendar year adding to the country’s ethane and gas condensate output.

The official further added that Iran, with over a century of history in oil industry, has always protected freedom of energy exchanges and the apolitical nature of pricing and the market.

“Politicizing the energy market through imposing financial, commercial and technologies restrictions on production would harm both suppliers and consumers,” he added.

The official also said that Iran has always favored reasonable pricing of oil as fluctuations in the market would only lead to instability for investment and decisions to supply.

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