Hassan Abbaszadeh, deputy petroleum minister and chief executive of
the National Petrochemical Company (NPC), said about 54 million tonnes of
petrochemical products were produced between March and November, while exports
reached 22 million tonnes.
“Despite the industry being placed under an alert status due to
special conditions, production continued to show an upward trend,” Abbaszadeh
said at a meeting between the oil minister and petrochemical industry
executives.
Production in the same period last year stood at around 53 million tonnes,
he said, adding that output could have been 7–8 million tonnes higher in the
absence of those constraints.
Exports also rose year on year, increasing from 21 million tonnes in
the first eight months of last year to 22 million tonnes this year, Abbaszadeh
said.
However, he noted that export revenues declined slightly due to lower
global prices. Average international petrochemical prices have fallen by about
8%, driven partly by oil price movements and increased Russian supply to
regional markets.
As a result, petrochemical export revenues in the first eight months
totalled $8.8 billion, compared with $9 billion in the same period last year,
Abbaszadeh said, adding that revenues could recover in the coming months.
Abbaszadeh reiterated that the petrochemical sector plays a central
role in reducing crude and semi-processed exports by converting oil and gas
resources into higher value-added products, in line with government policy.
The meeting brought together senior executives from major
petrochemical holdings and companies to review key challenges facing the
sector, including feedstock pricing, utility gas tariffs, export duties on raw
and semi-processed materials, global price declines, stable feedstock supply
and access to financing.
Participants discussed potential solutions aimed at facilitating
growth and supporting further development of Iran’s petrochemical value chain.