Iran Petchem Leap Noticeable since 1979 Revolution

(Sunday, February 10, 2019) 15:34

TEHRAN (NIPNA) -- A member of the Tehran Chamber of Commerce said Iran experienced a major leap in the petrochemical sector ever since the victory of the Islamic Revolution back in 1979.

Speaking to NIPNA, Abbas Argon said the potentialities of the petrochemical industry needed to be tapped for the betterment of the country’s economy and generation of value-added, adding, “The petrochemical industry of Iran over the past 4 decades since the victory of the Islamic Revolution has made outstanding achievements.”

He said the achievements were made possible despite the sanctions and many economic difficulties that the country had confronted since 1979.

“The petrochemical industry has a particular status in the development of the country as it prevents sale of crude oil and gas,” the official said.

Under the sanctions, he added, the industry has been able to generate hard currency for the country and contributes greatly to export of non-oil items.  

Since the victory of the Islamic Revolution, Iran’s petrochemicals production capacity has grown more than 22 times. 

The production capacity of various petrochemicals in the year 1357 (1979) roughly 3 million tons/year, but at the end of the current calendar year, which began on March 21, up to 65.8 million tons of petrochemicals are expected to be produced in Iran. 

Iran's petrochemical industry, despite undergoing various challenges in its development, is still accelerating its development, and given the available infrastructures in the country, this industry can become one of the most lucrative industries in Iran.

In order to achieve the industry’s goals, new investments and completion of existing projects are needed so that sale of crude oil and gas could be prevented and valued-added items be exported. 

Prior to the Islamic Revolution, only 6 petrochemical facilities operated in Iran which have reached 54 active ones currently. 

Before 1979, only 17 petrochemical products could be supplied domestically, but the number has reached 121 items currently. 

Furthermore, export of petrochemicals has increased from 0.6 million tons/year in 1979 to over 21.67 mt/y in 2018. 

 


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