Iran exports $12 billion worth of petrochemicals

According to Deputy Oil Minister Abdolhossein Bayat, despite certain problems, Iran’s petrochemical exports reached 16 million tonnes or worth $12 billion in the last Iranian calendar year ending March 20.

Mr. Bayat, who is also the managing director of National Petrochemical Company (NPC), said that comprehensive plans are being implemented by the country to further boost its petrochemical exports in the current calendar year. About 60 countries, mainly from South and Southeast Asia, were buyers of Iran’s petrochemical products in the last Iranian calendar year.

In response to rising demand, Iran plans to set up three new petrochemical hubs as it aims to become Middle East’s biggest petrochemical producer. Currently, the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.