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Iran Deputy Oil Minister: Petrochemical Projects Signal Hope

Iran Deputy Oil Minister: Petrochemical Projects Signal Hope
(Wednesday, February 21, 2024) 16:35

TEHRAN (NIPNA) -- Deputy Petroleum Minister and CEO of the National Petrochemical Company (NPC) highlighted the intelligent selection of strategies for the development of the petrochemical industry, citing the government's dedicated efforts towards fostering hope.

He emphasized that the operationalization of petrochemical projects in Golestan, Zanjan, and Ibn Sina Hamedan, which had been stalled for years, is now being actively pursued.

Speaking at the inaugural session of the CAPTURE CO2 Think Tank, Morteza Shahmirzai noted the significant attention given to the strategy of collecting associated gas and carbon management by the NPC over the past two years.

"By implementing the strategy of collecting associated gas in Gachsaran, Marun, Masjed Soleyman, and East Ahvaz, we not only protect the environment but also contribute to meeting the feedstock needs of petrochemical complexes to complete the value chain," Shahmirzai said.

Shahmirzai highlighted the revival of some partially completed and suspended petrochemical projects in the thirteenth government's term, stating, "Some of the measures taken in line with fostering hope and development in regions include the resumption of operations for the Golestan, Zanjan, and Ibn Sina Hamedan petrochemical projects, which had been halted for years."

He stressed the necessity of supporting domestic production and accelerating the transfer of technical knowledge and global technologies to achieve self-sufficiency, saying, "We do not welcome sanctions, but the conditions of the sanction era have spurred Iranian ingenuity, and today, relying on domestic capabilities, we are developing and advancing the petrochemical industry."

Shahmirzai emphasized the role of the NPC as a leading entity in guiding and regulating the industry. "Based on comprehensive policies and future development plans, we must strive towards complete self-sufficiency and cessation of imports using all available capacities in the country," he added.

Regarding the preventable loss of 95,000 tons of hydrogen in the Persian Gulf Star, Shahmirzai announced the preliminary approval for the implementation of the ammonia project by the Persian Gulf Star Oil Company.

He explained, "By implementing this project, we will not only prevent the loss of hydrogen but also add 450,000 tons to the country's ammonia production capacity."

The NPC CEO also addressed the issue of utilizing consumed gas, stating, "The total gas consumed by petrochemical complexes accounts for less than 8% of the country's total gas consumption, and this gas must be converted into value-added products to complete the value chain and reduce raw material sales."

Shahmirzai concluded by urging all participants to support environmental conservation and sustainable development in the Iranian petrochemical industry.

He echoed the sentiments of Iran's Supreme Leader, emphasizing the accountability of officials to the people and reaffirming the readiness of all employees and managers of the National Petrochemical Industries Company to cooperate in achieving these goals.

The first session of the CAPTURE CO2 Think Tank was attended by managers and representatives from the Ministry of Petroleum, subsidiaries, the Ministry of Energy, petrochemical complexes, refineries, and the Petrochemical Research and Technology Company.

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