Jun 4, 2013, 8:49 PM
News Code: 80684981
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Iran producing 24% of Middle East's petrochemical products

Tehran, June 4, IRNA – The Islamic Republic of Iran's share of the Middle East's petrochemical production has currently reached 24 percent from 16 percent in 2005.

Iran plans to increase its share in the Middle East's petrochemical production to 38 percent by the end of 2015.

The National Petrochemical Industries Company contributed about 37.5 percent share in (Iran's) non-oil exports last (Iranian) year (ended March 20) despite facing the harsh US-led western sanctions.

The Iranian petrochemical complexes produced a total of 41 million tons of different petrochemical products of which 28 million tons was ready for sale. A total of 15.8 million tons was exported and 12.2 million tons used in Iran's downstream industries.

Iran currently exports petrochemical products to more than 40 countries, including China, Japan, the United Arab Emirates (UAE), India, Turkey, Iraq, Taiwan, Thailand, Malaysia, Vietnam, Afghanistan, Pakistan, Armenia, Russia, Mozambique, Egypt, Syria, Turkmenistan, Tajikistan, Ukraine, Qatar, Tanzania, the Philippines, Ghana, Kenya, the Republic of Azerbaijan, Georgia, South Korea and Mexico.

Iran has recently given more attention to its petrochemical sector and that's why several petrochemical projects were inaugurated last year.

Last month, Managing-Director of the National Petrochemical Company (NPC) Abdolhossein Bayat had said that the newly-inaugurated petrochemical projects would considerably increase Iran's foreign exchange revenues.

Also in April, Iranian President Mahmoud Ahmadinejad inaugurated four petrochemical projects in Bandar Imam Petrochemical Complex in Iran's Southwestern city of Mahshahr.

The Bandar Imam Petrochemical Complex, one of the largest industrial establishments in the Islamic Republic of Iran, is located on the Northwest coast of the Persian Gulf.

The petrochemical products of the Bandar Imam Petrochemical Complex include Ethan, Propane, Butane, 5-Carbonate or heavier oil fractions and fuel gas.

Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

Iran exports petrochemical products to more than 60 countries. The main destinations include the Far East, Central Asia, Southeast Asia and Africa.