Iran Has 21% of ME Petrochem Market

Iran Has 21% of ME Petrochem Market

Iran holds 21 percent of the Middle East’s petrochemical market, said the deputy oil minister and managing director of the National Petrochemical Company (NPC).
Abbas Shari-Moghadam stated that Iran’s petrochemical market share in the Middle East will “significantly increase” when the 67 incomplete petrochemical projects come on stream in the next five years, IRNA reported.
Iran’s direct petrochemicals export to Europe has decreased over the past few years, leading the country to expand exports in Asia, East Asia and particularly the Middle East.
Production capacity of petrochemical and polymers has reached 60 million tons per year.
The volume is expected to increase by 2 million tons upon the completion of 6 petrochemical plants in the near future, including phase 2 of Kavian Petrochemical Co. with an annual production capacity of 1 million tons and phase 2 of Karoon Petrochemical Co. as well as Mahabad, Lorestan, Takhte Jamshid and Hegmataneh complexes.
More than 90 percent of the stocks of the National Petrochemical Company (NPC) subsidiaries have been sold to the private sector for a total value of $15 billion. Chemical and petrochemical companies’ shares in the bourse value around $22 billion.


Short URL : http://goo.gl/2bNRjw

You can also read ...

China Rejects US Sanctions, Vows to Continue Iran Crude Purchase
As the US and Iran continue to trade barbs over the...
India Vying for US Waiver
India, the second biggest crude customer of Iran, may cut its...
Venezuela Braces for Pricey Gasoline
Gasoline prices in Venezuela will soon catch up with world...
Zanganeh to Attend OPEC, Non-OPEC Committee Meeting
Iran's Oil Minister Bijan Namdar Zanganeh will attend a...
S. Korea Iran Crude Imports Up 15%
South Korea’s imports of Iranian crude rose around 15% in July...
Indonesia Cuts Oil Imports
Indonesia’s PT Pertamina will get an extra 225,000 barrels per...
UK's Quercus Halts Iran Renewable Project
British renewable energy investor Quercus said it will halt...
NPC Not Worried About Exports
The National Petrochemical Company is not concerned about...