Iran to hold over 6% share of world’s petchem production by 2025

TEHRAN - Head of Iran’s National Petrochemicals Company (NPC) says by the Iranian calendar year of 1404 (starts in March 2025) Iran’s petrochemical industry will be accounting for 6.2 percent of the total global petrochemical output.

Speaking in a gathering of senior petrochemical executives in the northwestern city of Mashhad on Tuesday, Behzad Mohammadi put the country’s current share of global petrochemical production at nearly 3.6 percent, Shana reported.

The deputy oil minister furthered noted that there are currently 56 active petrochemical complexes across the country which receive 33 million tons of feedstock annually (equivalent to 650,000 barrels of crude oil per day).

“By [the Iranian calendar year of] 1400 (starts in March 2021), the number of the petrochemical complexes will reach 83 and their feedstock consumption will increase to 62 million tons (equivalent to 1.4 million bpd).

Back in October, Mohammadi had estimated that investment in the country’s petrochemical sector is going to increase by 75 percent by the end of Iranian calendar year 1404.

In late September, Director of NPC’s Projects Ali-Mohammad Bosaqzadeh had said that Iran's annual petrochemical output is planned to reach more than 100 million tons by the Iranian calendar year of 1400 and to 130 million tons or nearly doubled by 1404.