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Petchem Industry Must Diversify Feedstock Portfolio: Deputy Minister

Petchem Industry Must Diversify Feedstock Portfolio: Deputy Minister
(Wednesday, February 5, 2025) 09:52

TEHRAN (NIPNA) – Iran’s Deputy Petroleum Minister and CEO of the National Petrochemical Company (NPC), Hassan Abbaszadeh, emphasized the need to diversify the feedstock portfolio for the petrochemical industry to ensure sustainable production as new projects come online.

Speaking at a meeting with CEOs of petrochemical holding companies, Abbaszadeh highlighted the importance of synergy across the sector, noting, "Fortunately, there is strong cooperation and coordination among holding companies and petrochemical firms, and we are working together to address challenges and resolve industry issues."

He stressed the necessity of collaboration in securing inter-company feedstock supplies, stating that while NPC has taken effective measures with holding companies, the companies themselves must negotiate solutions to ensure timely feedstock delivery for their complexes.

Abbaszadeh also pointed to the potential impact of holding companies’ participation in oil and gas field development projects, which could play a crucial role in meeting the feedstock needs of the petrochemical sector. Negotiations over some fields are ongoing, and he expressed optimism that agreements would soon be finalized.

The NPC chief added that a thorough review of permits for existing projects is underway, with significant progress already made. He called on holding companies to reassess their plans as necessary.

Regarding industry events such as domestic and international exhibitions and conferences, Abbaszadeh proposed the creation of a unified annual calendar in collaboration with holding companies to streamline planning and execution. He suggested that public relations managers organize specialized meetings to ensure proper coordination.

Touching on leadership appointments in the sector, he underlined the importance of prioritizing professional qualifications, emphasizing that managerial roles should be assigned based on expertise, commitment, and competence.

During the meeting, CEOs of the petrochemical holding companies shared their perspectives on industry challenges and reiterated the need for collective support to overcome obstacles.

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