Petchem Industry Key in Curbing Crude Oil Sales

(Wednesday, October 2, 2019) 00:09

TEHRAN (NIPNA) -- Iranian Minister of Petroleum Bijan Zangeneh said that the petrochemical industry was the proof that sale of crude oil and gas could be curbed in the country.

Addressing a gathering of Basiji forces in the petroleum industry of the country on Tuesday, Mr. Zangeneh said that by realization of the third leap in the petrochemical industry, the country’s revenues from the sector would reach 37 billion dollars per year.

He also said that petrochemical production capacity of the country would also cross 130 million tons per annum from currently 66 mt/y by 2025.

The official also stated that by 2021, the second leap of the industry would be realized by which production capacity of the industry would reach 100 million tons per year.

He went on to add that the US had intended to bring Iran’s oil exports to zero by imposing sanctions on Tehran, stating that this goal had never been realized and, by the help of God and the will of the oil industry staff of the country, it would never come true in the future.

Zangeneh further said that resistance was the only way to tackle US sanctions and the ensuing economic pressure caused by the sanctions.

He said that the current economic conditions were much tougher than the time Iran was at war with neighboring Iraq back in the 80s as at that time Iran could sell its oil to wherever it deemed necessary but now it could not do so easily.

Elsewhere in the address, Mr. Zangeneh stated that supporting domestic manufacturers and industrialists was one the Iranian Ministry of Petroleum’s top priorities.

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National Petrochemical Company