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Iran to hold 38% share of petrochemical output in Middle East by 2015

Source: Tehran Times

Iran will account for 38 percent of petrochemical production in the Middle East by the year 2015, the National Iranian Petrochemical Company (NIPC) planning manager said on Sunday. Iran is currently producing 24 percent of the total petrochemical products in the Middle East, SHANA quoted Ramezan Oladi as saying.

Iran's Petrochemical complex in Assaluyeh

Petrochemical exports constituted 37.5 percent of the country's non-oil exports in the past Iranian calendar year, which ended on March 20, the official added.

Over the past few years, Iran has significantly increased its petrochemical production.

Iran plans to boost petrochemical production by 12 million tons by the end of spring (June 20, 2013), NIPC Managing Director Abdolhossein Bayat said in December 2012.

Bayat added that about $80 billion in investment opportunities have been identified in both upstream and downstream sectors of the Iranian petrochemical industry, and this shows that the industry is taking great steps toward development.

National Petrochemical Company (NPC)

China and countries in Western Europe are the main recipients of Iran's petrochemical exports, followed by countries in Southeast Asia, the Middle East, the Indian subcontinent, Africa, and Latin America, he noted.

Iran's petrochemical exports amounted to $12 billion in the past Iranian calendar year, Bayat further said.

Last year, petrochemical products were exported to around 60 countries of the world, he said.

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