Smart Development, NPC Strategy for Petchem Development: CEO

(Thursday, June 18, 2020) 20:27

TEHRAN (NIPNA) -- The CEO of the National Petrochemical Company said smart development was the company’s new strategy in the petrochemical industry of the country.

Addressing a press conference on Monday, Behzad Mohammadi said: "In the path of development, we must move towards completing the value chain, and the petrochemical industry is in a period of transition currently and must move from " one product-one feedstock" to "one feedstock and several products" to create sustainable development while increasing our resilience.”

"In our view, the formula to success has changed globally," he said. "Today's strategy for development of this industry is smart development, and this is on the agenda of the National Petrochemical Company.”

Mohammadi said: "Last year, we received a total of 35 million tons of feedstock - equivalent to 800,000 barrels of crude oil per day - from the oil and gas industry, which will be equivalent to 1.5 million barrels of crude oil in 1400 (the calendar year that begins on March 20 2021)."

He said that 56 complexes with a production capacity of 66 million tons were active in Iran last calendar year, adding that 3 of these complexes were responsible for providing utilities and other services, while polymer, chemicals, hydrocarbons and urea fertilizers were the most important items on the domestic as well as export markets.

Mohammadi noted the production of 333 polymer grades and 42 types of chemicals in Iran, and added: "We had 31 million tons of final products for sale last year, of which 23 million tons were exported and 8 million tons were supplied domestically and most of them were distributed through mercantile exchanges."

The Deputy Minister of Petroleum went on to add that the value of 23 million tons of exported products last year was 10 billion dollars and the value of products distributed inside the country was 5 billion dollars.

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National Petrochemical Company