Propylene Shortage Hurting Petrochem Sector Growth

Completing the value-added petrochemical production chain in petrochemical sector can help cut import of strategic commodities like propylene and also develop the key downstream sector, managing director of the state-owned National Petrochemical Company said.
“NPC imports close to $1.5 billion worth of petrochemicals a year, of which $600 million plus is propylene for which there is a chronic shortage in the market,” the Oil Ministry news portal quoted Behzad Mohammadi as saying.
There are 55 petrochemical companies in Iran producing 60 million tons a year. But propylene output is as low as one million tons because an efficient value-added chain is lacking, Mohammadi said.