Hassan Abbaszadeh, deputy petroleum minister and head of the National
Petrochemical Company (NPC), told reporters that output was broadly in line
with the same period last year. Exports reached about 13 million tonnes worth
$5.5 billion, while domestic sales rose to 7 million tonnes worth about $4
billion, driven by higher demand from downstream industries.
He said 15 new petrochemical plants, four feedstock supply units and
several infrastructure projects are due to come on stream this year, with six
already inaugurated, including flare gas recovery facilities and heavy
polyethylene plants. NPC expects the projects to add 9.8 million tonnes of
annual capacity with $6 billion in investment.
Abbaszadeh noted that feedstock shortages remain the industry’s main
challenge, leaving about 22% of installed capacity idle. A government task
force is pushing large holding companies to invest upstream to secure supply,
while flare gas capture projects are expanding.
He also highlighted recent regulatory moves, including resolution of a
long-running dispute over utility pricing with Iran’s competition council,
which had previously disrupted financial transparency and trading of
petrochemical shares.
To finance expansion, NPC has already arranged €210 million in Islamic
bonds through Bank Mellat for three projects, and is finalising another €730
million issuance with Bank Mellat, Tejarat Bank and Bank Melli.
Abbaszadeh said Iran is also studying export markets in Africa and Asia to
diversify sales, while boosting monitoring and digital oversight of production
and inventories.
The official added that next week’s IranPlast exhibition will host 705
domestic and 67 foreign companies, with a strong focus on global plastics
standards and environmental concerns, including a forthcoming UN treaty on
plastic waste.