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Iran Petchem Industry Poised for Major Development

Iran Petchem Industry Poised for Major Development
(Sunday, June 13, 2021) 17:18

TEHRAN (NIPNA) -- The chairman of the policy council of the Petrochemical Industry Excellence Award said: "Iran's petrochemical industry is facing rapid and dramatic developments in the next decade, and petrochemical companies must maintain their competitive advantage in the market by adapting quickly to new conditions."

Ali Mohammad Bossaqzadeh, Chairman of the Petrochemical Industry Excellence Award Policy Council, welcomed Dr. Schneider, a faculty member of the European Quality Management Foundation, and Dr. Gardov, CEO of the European Quality Management Services (QMS), at the award’s ceremony, saying: “Today, the value-added petrochemical industry that transforms oil and gas into a variety of products needed by humans, from fertilizers and plastics to digital devices, medical equipment, detergents or rubber, has a special place and is regarded as the part and parcel of modern societies.”

"The global economy has changed faster, more comprehensively and unpredictably in recent years than ever before, and it has become even more complex," he said. "The challenges facing global markets are unclear and cannot be underestimated."

The adviser to the Deputy Minister of Petroleum for Petrochemical Affairs and the CEO of the National Petrochemical Company further underlined the impact of some important super trends on the ecosystem, adding: “Iran's petrochemical industry operates in a turbulent environment and a competitive global market. Competition in this area is very fierce, and due to the sanctions imposed, business development in this industry has become very difficult.”

He added: "Supplying raw materials and feedstock in this field is becoming more difficult every day. Petrochemicals are mostly (90%) produced from oil and gas and the rest are made from coal and other materials.”

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