Iran Eyes 2nd Petchem Leap by End of Rouhani Admin

(Saturday, August 29, 2020) 13:00

TEHRAN (NIPNA) – Iranian President Hassan Rouhani announced that the second leap in the country’s petrochemical industry would reach fruition by the end of his second term in office by 2021.

Addressing a virtual ceremony to launch a number of oil, gas and petrochemical projects on Monday, Dr. Rouhani said besides completion of the second leap of the industry, plans had been devised for materialization of the third leap of the industry.

The second leap is planned to bring Iran’s petrochemical production capacity from currently 66 mt/y to 100 mt/y by 2021.

The third leap will also enhance productivity of the sector to 130 mt/y by 2025.

Rouhani said Iran’s crude oil production had increased from 70,000 b/d to 400,000 b/d in the West Karoun oil fields cluster in the 7 years that he had been in office since 2013.

“Had it not been because of the US sanctions, Iran’s crude oil production capacity in the region would have reached a million barrels per day by now.”

Elsewhere in his address, he said the next administration would start operation with $25 billion petrochemical revenues which was only $11 billion before the second leap.

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