Iran’s share of world’s petrochemical production revealed

Iran’s petrochemical industry will be accounting for 6.2 percent of the total global petrochemical output by March 2025, head of Iran’s National Petrochemicals Company (NPC) Behzad Mohammadi has said, Iranian media reported.

Mohammadi made the remarks during the meeting of senior petrochemical executives in the northwestern city of Mashhad on November 12. As he told, Iran’s current share of global petrochemical production is nearly 3.6 percent.

Mohammadi further noted that there are currently 56 active petrochemical complexes across Iran, which receive 33 million tons of feedstock annually equal 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 barrels per day).

He added that the number of operational plants in Iran would climb to 109 by 2025 which would consume an equivalent of 1.7 million barrels per day of crude oil.

The head of NPC said that Iran’s annual petrochemical revenue reached $17 billion from only $200,000 back in 1979. He also said the sector's revenues would cross $37 billion per year by 2025.

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.

Iran is the only state in the Middle East that produces large amount of necessary equipment for the petrochemical industry on its territory.