Javad Owji noted that many countries have successfully transitioned
from methanol feedstock to gasoline production, leveraging technical expertise
readily available in Iran.
The Petroleum Minister made the announcement during a ceremony
commemorating the signing of agreements to study development projects across 16
gas fields, highlighting the significance of collaboration with large
petrochemical companies.
"We have planned initiatives in petrochemical complexes,
especially those producing methanol, to cooperate with national refining and
petrochemical companies to produce gasoline," Owji stated, underscoring
the potential benefits in balancing gasoline supply and demand.
"In cooperation with the National Petrochemical Company, this
desirable development will take place, utilizing our methanol production
capacity for gasoline production," he added.
Owji highlighted the ongoing investments by petrochemical companies
and holdings in the development of gas fields, which are expected to add
significant volumes to the country's gas and oil production capacities in the
coming years.
"Utilizing methanol-derived gasoline can help compensate for
gasoline deficits, especially considering the decline in methanol prices over
the past few years," Owji noted, referencing successful experiences in
countries like China.
He also outlined plans for the completion and initiation of numerous
projects, both ongoing and new, which are poised to significantly augment the
country's oil and gas production capacities, as well as its refining
capabilities.
"With the operation of 79 semi-completed projects worth $16
billion and 50 new projects valued at $25 billion, our daily oil production
will increase by 300,000 to 400,000 barrels, while our gas production will rise
by 35 million cubic meters per day. Additionally, our refining capacity will
increase by over 50,000 barrels per day," Owji elaborated.
The Minister expressed optimism about the future prospects of the
Iranian petrochemical industry, highlighting the government's commitment to
fostering innovation and collaboration to drive growth and prosperity in the
sector.