According to the NIPNA, the Deputy Minister of Petroleum and CEO of the National Petrochemical Company said on April 27th at the third Iran-Africa International Economic Conference that the production capacity of the country’s petrochemical products has reached around 100 million tons per year, and with the implementation of 67 new projects, it will increase to 131 million tons by 2029.
Referring to the growth of Iran's petrochemical industry alongside the oil, gas, and refining industries, Abbaszadeh said: "Today, the production capacity of petrochemical products in the country has reached approximately 100 million tons per year."
Explaining the structure of Iran's oil and petrochemical industry, he added: "In the Ministry of Petroleum of the Islamic Republic of Iran, four main companies are active: the National Iranian Oil Company (NIOC), the National Iranian Oil Products Distribution Company (NIOPDC), the National Petrochemical Company (NPC), and the National Iranian Gas Company (NIGC). Each of these companies has a specific responsibility in the development, production, and distribution of the country's energy resources."
Abbaszadeh also mentioned: “Currently, 73 petrochemical complexes and three power and utility complexes are operational in the country, with two major petrochemical hubs located in Assaluyeh and Mahshahr, and other petrochemical companies located in various provinces.”
The Deputy Minister of Petroleum announced that the nominal capacity of the country’s petrochemical industry has reached 97 million tons per year and that various products not only meet domestic demand but are also exported to global markets.
Regarding the export of petrochemical products, he stated: “Out of 42 million tons of sellable products, nearly 30 million tons were exported last year.”
Abbaszadeh added: “The products of Iran’s petrochemical industry are categorized into various groups, such as polymers with a capacity of 9 million tons, aromatics with a capacity of 4 million tons, chemical and agricultural fertilizers with a capacity of 9 million tons, and basic chemicals with a capacity of 43 million tons. Of this, around 14 million tons of methanol are produced, 10 million tons of which are exported to global markets.”
Regarding the feedstock and fuel sector, Abbaszadeh clarified: "The capacity of this sector is about 30 million tons, which is mainly consumed domestically, and a portion is also exported."
The CEO of the National Petrochemical Company of Iran, regarding the industry's development plans, stated: "Currently, 67 major petrochemical projects are underway, with an average physical progress of about 40 percent. These projects will become operational in the next four years and will increase the country's petrochemical production capacity from 97 million tons to 131 million tons."
He valued the investment in these projects at $26 billion, adding that about half of this investment has already been spent.
The Deputy Minister of Petroleum pointed out that the growth trajectory of petrochemical products is set until 2034, with the greatest growth in the polymer sector, where the production capacity of polymers will rise from 9 million tons to around 32 million tons. This capacity increase is mainly driven by new projects aimed at enhancing added value.
The CEO of the National Petrochemical Company, referring to the development of the product value chain, noted: “Based on the planned program, significant growth in the production of final products will be seen in three key periods: 2025, 2029, and 2034, which will contribute a larger share of added value to the country.”
Regarding the export of petrochemical products, Abbaszadeh said: "About 70 percent of the country's petrochemical products are exported, and 30 percent are consumed domestically. Last year, the export of polymer products was about $2.8 billion, methanol exports were about $2.2 billion, and urea fertilizer exports were about $1.7 billion."
He emphasized: “After polymers, methanol, and urea, other products such as polyethylene, aromatics, and ammonia rank next in terms of exports.”
In the final part of the special panel on petrochemical industries at the Third Iran-Africa International Economic Conference, the CEO of the Petrochemical Industries Company, in summarizing his remarks, stated: "In this panel, efforts were made to introduce the production and export capacities of the petrochemical industry of the Islamic Republic of Iran. In this regard, several important complexes were also introduced to the representatives of African countries, including the Persian Gulf Petrochemical Industries Company, which holds a special position in this industry due to its diverse portfolio of petrochemical products."
He also mentioned that this holding has a subsidiary company named Persian Gulf Trade and Industry Company, which is actively involved in the field of international commerce and trade of petrochemical products, and this company can, in the subsequent stages, pave the way for the development of joint commercial cooperation with African countries.
He also highlighted the importance of the Parsian Oil and Gas Company and the focus of this group on producing urea fertilizers, stating that the CEO of the Parsian Holding provided detailed information about its activities and emphasized the excellent opportunities for cooperation with African countries in the field of fertilizer export, especially urea.
The CEO of the National Petrochemical Company also referred to the potential for collaboration in the petro-refining sector, stating: “If suitable development conditions exist in African countries, the expansion of cooperation based on feedstock supply from Iran is possible. Methanol and its downstream derivatives, along with other chemical value chains, are among the potential areas for cooperation and development.”
Abbaszadeh concluded: “Considering Iran’s position as one of the largest methanol producers in the region, Dr. Didari, CEO of the largest methanol producer in Iran and head of the Methanol Working Group, provided an overview of the capabilities and cooperation opportunities, which I hope will be of interest.”