Petrochemicals

Iran’s exports of fuel and petrochemical exports have surged in recent years as the re-imposition of the U.S. sanctions on the country’s oil industry curbed crude sales, the Daily Star reported. The situation has left Iran in a good position to be able to expand trade in Asia and Europe …

Iranian fuel and petrochemical exports have boomed in recent years despite stringent U.S. sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said. The United States imposed sanctions on Iran’s oil and gas industry in 2018 to …

Russia’s second-largest oil producer Lukoil plans to invest $3 billion in production of petrochemicals within the next 6 years, TASS news agency quoted the company’s head, Vagit Alekperov, as saying on Friday. He was speaking at the launch of an isomerisation unit at the NORSI oil refinery that is part …

Ethylene has shown robust and consistent growth over the period 2015 to 2019, according to GlobalData, and is expected to increase at a healthy 2.5% compound annual growth rate (CAGR) over the decade. Asia has been the largest contributor, both in terms of demand and supply, and is likely to …

Iranian petrochemical companies now fully meet the domestic need for benzene and the imports of the chemical product will stop from now on, according to an Oil Ministry’s statement on Sunday. Iran will no longer need any imports of benzene as one of the Iranian petrochemical companies has now met …

Iran’s Oil Minister Bijan Zanganeh said in the inauguration ceremony of several oil-related plans that Iran’s petrochemical output would reach 40 billion dollars in 2027, Trend reports citing IRNA. Zanganeh said that the required feed for the super projects launched as part of Iran’s so-called ‘third surge’ plan to increase …

CNOOC Oil & Petrochemicals Co. Ltd (CNOOC) and Shell Nanhai B.V. (Shell) have announced the start-up by their 50:50 joint venture, CNOOC and Shell Petrochemicals Co. (CSPC), of new units to supply the Chinese market with essential petrochemicals. One new unit is the largest of its type in China, producing …

Deputy Minister of Oil for Refining and Distribution Affairs Alireza Sadeghabadi said on Monday that the Persian Gulf Star refinery is effective to make Iran self-reliant for gasoline output and helped Iran boost export of oil derivatives as well. “Currently, an average of 48 million liters of gasoline and 17 …

Iranian oil minister announced on Thurs. that the country’s petrochemical income is expected to reach $25 billion at the end of the next Iranian calendar year (March 20, 2022), Trend reports citing Mehr. According to Bijan Namdar Zanganeh, Iran could earn $11 billion of revenues in the first boom of …

Global demand for petrochemical products is expected to grow by about 4% annually, while the demand for oil will grow only by 1%, Russian President Vladimir Putin This announced on Tuesday. He was speaking at a meeting for the strategic development of the petrochemical industry. “By the way, this is …