Iran Petchem Industry, Manifestation of Value Creation from Resources

(Thursday, October 10, 2019) 23:44

TEHRAN (NIPNA) – The CEO of the National Petrochemical Company (NPC) said that the petrochemical industry of the country was the best manifestation of creating value from the available resources.

Addressing the closing ceremony of the 5th Oil and Power Congress in Tehran on Wednesday, Behzad Mohammadi said: “Petrochemical industry as a sustainable and attractive industry has an important role in the economic system of the country and creates value by using resources available in the country.”

The official also said that the industry’s development would make it easier for small and large enterprises to generate jobs in the downstream petrochemical industry.

Speaking about the resources required by the petrochemical industry, he said: “Petrochemical industry resources include feedstock, water and electricity. Petrochemical industry with capacity of 66 million tons per year has goals such as production of items and export in the economic sector and plays a leading role in the country's economic system in terms of value creation.”

Mohammadi added that the petrochemical industry currently received about 33 million tons of feedstock which was equal to 650,000 b/d of crude oil.

"There are currently 56 active petrochemical complexes receiving the feedstock, while the number will reach 83 with the second leap in the sector by which feedstock supply will reach 62 mt/y by 2021.”

By 2025, he added, there would be 109 active petrochemical plants in Iran which would receive 74 mt/y of feedstock.

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National Petrochemical Company