Energy, Economy

Iran Petrochemical Revenues at $5.5 Billion in Six Months

Iran Petrochemical Revenues at  $5.5 Billion in Six MonthsIran Petrochemical Revenues at  $5.5 Billion in Six Months

Iran exported $5.57 billion worth of petrochemical and polymer products in the first six months of the current fiscal year (March 21-Sept. 22), up $1.2 billion compared to the same period of last year.

According to NIPNA, the National Petrochemical Company’s official news agency, exports are expected to register a new annual record in terms of value by March as oil is being traded at around $50 a barrel in international markets.

Iran earned a total of $9.55 billion in revenues from petrochemical exports last year, official data show.

In the six-month period, 15 major Iranian petrochemical companies met or surpassed their export targets, NIPNA said.

Ali Mohammad Bosaqzadeh, the NPC’s deputy for production control, said this month that exports in the said period rose by 12% in tonnage and 8% in value compared with the corresponding period of a year ago. He did not provide details.

The lion's share of petrochemical exports is bound for India, China and South Korea, and the country is gaining more ground in Africa and Europe.

“Sales in domestic markets increased by 7% in terms of volume and 12% in terms of value,” he added.


Bosaqzadeh noted that petrochemical output reached 27 million tons in the first half of the year, up 5% compared to the same period of last year.

Petrochemical complexes in Mahshahr Petrochemical Special Economic Zone, Khuzestan Province, produced more than 9.87 million tons of petrochemicals in the six-month period.

According to projections, the zone’s output will reach 21 million tons by the end of the fiscal.

In addition, petrochemical plants in Pars Special Economic Energy Zone in the city of Asalouyeh, Bushehr Province, produced 11.4 million tons of petrochemicals in six months. The volume is predicted to reach 26.5 million tons this fiscal.

The output of other petrochemical complexes was at 5.55 million tons and is expected to reach 11.4 million tons by March.      

Having passed the 50-million-ton mark in the previous fiscal, Iran aims to ramp up production to 60 million tons by March 2018, as a string of petrochemical plant launches should increase nominal output capacity to 72 million tons annually.

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