New Technology to Revolutionize Petrochem Sector

New Technology to Revolutionize Petrochem SectorNew Technology to Revolutionize Petrochem Sector

As a large petrochemical supplier, Iran can definitely enjoy a higher bargaining power in global markets provided it manages to reduce its production costs, a petrochemical expert said.

Addressing a panel on "Chemical Waste Recycling Methods", Samira Mousavikhah added that most petrochemical powers, including China, the US and Saudi Arabia, intend to implement new plans for recycling chemical and petrochemical wastes in their petrochemical industry, which can save them billions of dollars.

"The judicious use of chemical materials and recycling of chemical waste can not only lead to economic prosperity by reducing production costs but also give rise to environmental benefits," she was quoted as saying by Moj News Agency.

Elaborating on the introduction of cutting-edge packages of chemical waste recycling technology by an oil giant to Iran's petrochemical industry for the first time in 50 years, the expert said, "Purification of  ethanolamines used in gas plants and refineries for sour gas sweetening, purification of glycols used for natural gas conditioning and regeneration of sulfolane used as an aromatic extraction solvent to remove benzene, toluene and xylene from hydrocarbon streams as well as regeneration of tetraethylene glycol in gas platforms are among the most important technological packages offered to Iran."

Noting that modern chemical recycling technology has been used in the most famous petrochemical companies, including Saudi Aramco, Qatar Petroleum, the UK's BP and Germany's BASF, she said, "Advanced know-how has been offered to Iran's petrochemical industry by Global Speciality Chemicals Ltd.

"It is predicted that in the post-sanctions era, the new technology comes in handy to revive the economy of Iran's dormant petrochemical units, in addition to its significant environmental advantages."

Stressing that declining waste production in petrochemical industry is key to decreasing production costs of plastic and polymer production across the world, the specialist hoped that with the use of the new technological packages and lowering production costs, Iran will be able to dominate others in the global market when it comes to selling and exporting petrochemical goods at competitive prices.

Since Global Speciality Chemicals Ltd. was established in 2002, the company has developed into a globally active company programmed for further growth.

GSC has grown into a successful organization, manufacturing speciality performance chemicals and expanding into areas of paint and coating, oil and gas industry chemicals, construction chemicals, textile chemicals, sugar chemicals, leather chemicals and water treatment chemicals.

The key elements of GSC's policy include an uncompromising supply service both with regard to technical expertise and customer response. GSC products provide the most cost-effective solution to meet the need of customer. Petrochemical output reached 51 tons at the end of the Fourth Five-Year Plan (2006-11) and the volume is expected to rise to 62 million tons by the end of the current Iranian year (March 19, 2016).