TEHRAN – Iran’s petrochemical production in the first six months of the current Iranian calendar year (March 21-September 22) has risen seven percent compared to the same period of time in the past year, according to an official in the National Petrochemical Company (NPC).

Bijan Chegeni, the NPC’s director for production control, put the six-month petrochemical output at 38.5 million tons, noting that the country’s petrochemical output is planned to reach 77 million tons by the end of the year (late March 2024), IRNA reported.

According to the official, the country’s petrochemical production also increased by seven percent in the previous Iranian year to reach 69.6 million tons.

The official noted that 27.6 million tons of petrochemical products were exported in the past year, registering a four percent growth compared to the preceding year, in terms of weight.

Pointing out that overhaul operations were carried out in 21 petrochemical complexes in 1401, he added: “Basic repairs are very necessary for petrochemical units, and if it is not paid attention to, the possibility of damaging the facilities and increasing costs increases.”

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as petrochemical export is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

According to NPC Head Morteza Shah-Mirzaei, the company plans to increase its annual petrochemical production capacity to 200 million tons over the next 10 years.

In this regard, Iranian Oil Minister Javad Oji said that more than 100 petrochemical projects with a total investment of about $70 billion have been defined and will be implemented across the country.

Oji noted that the country will also be completely self-sufficient in producing the catalysts used in the petrochemical industry by the end of the current government administration's incumbency (August 2025).

EF/MA