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Petrochemical Exports Help Offset 20 Percent of Oil Loss

A wide range of feedstock namely propane, ethane and naphtha is converted into value added goods like ethylene, propylene and methanol which are used to produce plastics, adhesives, resins and synthetic rubbers
Petrochemical Exports Help Offset 20 Percent of Oil LossPetrochemical Exports Help Offset 20 Percent of Oil Loss

Export of 23 million tons of petrochemicals in the last fiscal (ended in March) helped offset at least 20% of lost oil revenues, a member of the board of directors of the National Petrochemical Company said.
“Close to 34 million tons of hydrocarbons was used as feedstock in 55 petrochemical plants that produced 31 million tons in 2019,” Abdolhossein Bayat was quoted as saying by ILNA.
Of the total output, 23 million tons were exported and earned $9 billion, (almost 20% of Iran’s oil revenues in fiscal 2018).
In that year (2018), a barrel of crude sold for about $50 and the National Iranian Oil Company’s daily exports was 2.5 million barrels generating $45 billion per year.

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