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Iran to Launch Petchem Projects with 3 Million Ton Capacity: Oil Minister

Iran to Launch Petchem Projects with 3 Million Ton Capacity: Oil Minister
(Saturday, June 1, 2024) 09:59

TEHRAN (NIPNA) - Iran's Petroleum Minister announced that several major petrochemical projects with a combined capacity of 3 million tons are set to become operational in the coming weeks.

Speaking on Wednesday, Javad Owji revealed that 23 large-scale projects, valued at $4.6 billion, are nearing completion, including those in the petrochemical sector.

During a press briefing on the sidelines of a cabinet meeting, Owji highlighted the delayed projects that President Raisi had prioritized, such as flare gas recovery, boosting the production capacity of petrochemical complexes, particularly in downstream industries, constructing oil product pipelines, and enforcing the Clean Air Act.

Owji emphasized the Ministry of Petroleum's achievements under the 13th administration in major areas such as increasing production and export of oil and gas, preventing crude oil sales, and constructing petro-refineries. The ministry has also made significant strides in downstream and complementary industries.

"In the next few weeks, we are ready to operationalize 23 major projects worth $4.6 billion, including petrochemical projects that will add up to 3 million tons to our petrochemical production capacity," Owji stated.

He also noted the upcoming operation of 460 kilometers of oil product pipelines. Currently, oil products are transported to consumption centers via road tankers. The new pipelines will significantly reduce the reliance on these tankers, providing numerous benefits.

Owji outlined plans for a total of 1,000 kilometers of oil product pipelines to be operational by the end of the year, with 460 kilometers set to launch in the coming weeks.

He mentioned that President Raisi's planned visit would have included the inauguration of projects such as the quality improvement of Tabriz refinery products and the construction of a 222-kilometer oil product pipeline from Tabriz to Khoy and Urmia. This pipeline will eliminate the need for 5,000 to 6,000 road tankers, simultaneously reducing air pollution and road accidents.

Owji also mentioned additional projects coming online, including gas transmission lines, pressure boosting stations, and the recovery of 4 million cubic meters of flare gas.

This wave of new projects underscores the ministry's commitment to advancing Iran's oil and petrochemical infrastructure, ensuring sustainable development and environmental protection.

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