NPC Export Earns $3b in 3 Months

NPC Export Earns $3b in 3 MonthsNPC Export Earns $3b in 3 Months

 Iran exported 5 million tons of petrochemical products during the first three months of the current Iranian year (started March 21) valued at $3 billion, coordination and supervision director of the National Petrochemical Company, Ali Mohammad Bosaqzadeh, said.

"NPC does not export reformate—the main source of aromatic bulk chemicals such as benzene, toluene, xylene and ethylbenzene which have diverse uses, most importantly as raw materials for conversion into plastics," he noted.

According to the official, reformates are first converted to higher value added products such as benzene and other aromatic compounds, and then exported to the target markets, ILNA reported.

Underscoring the surplus production of petrochemical goods, the official reiterated that 50% of such products are sent to target markets, especially in Europe.

On the critical issue of boosting exporting capacity, Bosaqzadeh said, "The historic deal between Iran and P5+1 can help us enter new markets. Nonetheless, the process of reclaiming our position in the market will take time."

Currently, 45 petrochemical units produce around 60 million tons of products, accounting for 36% of the total non-oil exports. According to global estimates, Iran holds 24% of Middle East's and 4.2% of the world's petrochemical production capacity.