Close to two million tons of the latent capacities of Iran’s petrochemical complexes will become operational in the next Iranian calendar year (to start March 20, 2020), said a manager of the National Petrochemical Company (NPC) on Saturday.
A total of 23 projects in phases 1 and 2 of the Assaluyeh region in southern Iran are under implementation, whose completion will lead to a significant rise in the capacity of Iranian petrochemical industry and the diversity of its products.
Iran’s sale of petrochemical products in a local energy exchange exceeded $200 million in one week as the government keeps using the mechanism to bypass the US sanctions imposed on the oil and gas industry.
Load and unload activities for petrochemical cargoes at Iranian ports have soared by almost a third in one month, despite sanctions imposed by the United States, meant to disrupt the country's trade of crude oil and related products.
Iran plans to build two petrochemical plants in its northern areas along the Caspian Sea that will fully correspond to all required environmental standards, Iranian Oil Minister Bijan Namdar Zanganeh told Sputnik on Thursday on the sidelines of the Russian Energy Week forum in Moscow.
A cooperation agreement was signed between Iran’s Petrochemical Research and Technology Company (PRTC) and Tabriz Petrochemical Company (TPC) on Monday on the transfer of the technology to produce high-density polyethylene (HDPE).
Petrochemicals have become Iran's biggest driver of foreign currency income from exports ever since US sanctions limited the OPEC member's crude sales, Oil Minister Bijan Namdar Zanganeh said on Sunday.