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Access to Various Feedstock Key Advantage of Iran Petchem Industry

Access to Various Feedstock Key Advantage of Iran Petchem Industry
(Monday, August 9, 2021) 20:35

TEHRAN (NIPNA) – The CEO of the National Petrochemical Company (NPC) said that access to a variety of feedstock is the most important advantage of Iran for the development of the petrochemical industry.

Addressing a ceremony to unveil several achievements of the NPC, Behzad Mohammadi said on Monday that BY 2025 several projects will come online in the industry which will bring feedstock consumption of the industry to an equivalent of 2.3 million barrels per day. Mohammadi said Iran’s petrochemical industry is more proud, more dynamic and stronger than ever in the field of sustainable production and supply of feedstock for downstream industries, exports and hard currency generation, adding in the calendar year of 1399, which ended on March 20, roughly 40 million tons of feedstock was consumed by the industry, an equivalent of 1 mbd of crude oil, wroth $6b that was fed to 67 petrochemical plants across the country.

He said the figure was expected to reach an equivalent of 2.3 mbd by 2025 once new projects come online in the industry.

Last year Iran added 25 million tons to its annual petrochemical production capacity, he said, adding the industry also supplied 34 sellable products during the same year which generated $15 billion.

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