Iran Petchem Industry Focused on Energy Optimization, Cost Reduction

Iran Petchem Industry Focused on Energy Optimization, Cost Reduction
(Saturday, April 27, 2024) 18:09

MAHSHAHR (NIPNA) - Deputy Minister of Petroleum and CEO of the National Petrochemical Company emphasized the importance of optimizing energy consumption and reducing costs as among the top strategic priorities for the petrochemical industry in the calendar year of 1403 which began on March 21.

Speaking among CEOs of petrochemical companies based in Mahshahr, Morteza Shahmirzaei, Deputy Minister of Petroleum and CEO of the National Petrochemical Company, highlighted the significance of reducing energy costs and optimizing energy consumption, as well as providing full support to domestic producers and manufacturers as key strategies for the petrochemical industry in the current year.

"I am very pleased to witness favorable conditions in the production units in Mahshahr today. The complexes in this region have succeeded in achieving the highest level of productivity and production in the past year by relying on domestic capabilities. This gives hope that the momentum will continue in the year of production surge," Shahmirzaei stated during his visit to the petrochemical hub.

He identified the reduction of costs and optimization of energy consumption as one of the industry's main strategic objectives for the current year, stressing the imperative for petrochemical companies to be pioneers in preserving and safeguarding intergenerational resources through energy optimization.

Shahmirzaei also emphasized the utilization of all national capacities towards achieving complete self-sufficiency, stating, "If equipment or parts are produced domestically, petrochemical companies must procure their purchases through Iranian producers and manufacturers, and under no circumstances should similar foreign goods or products be imported."

Allocation of 40 percent of profits by companies to complete the value chain was highlighted as another strategic program for the petrochemical industry in the current year.

"The most important strategic program of the petrochemical industry this year is the growth of capacities and production surge. To complete the value chain, a more coherent program is needed to diversify petrochemical products," said the CEO of the National Petrochemical Company.

He urged petrochemical companies and complexes to adhere to the laws, guidelines, and all existing procedures in the region, emphasizing their social responsibilities and commitment.

Shahmirzaei concluded his one-day visit to the country's oldest petrochemical hub by inspecting complexes such as Abadan, Ghadir, Fanavaran, export terminals, and reservoirs, while holding a specialized session to address the concerns of petrochemical companies in realizing the year's slogan.

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