Petrochemicals

A Memorandum of Understanding (MoU). valued at €60 million. was signed between two Iranian firms for the development of petrochemical equipment.

According to ICANA. Zangeneh said that over 95% of petrochemical companies could cash their exports in.

According to the National Petrochemical Company (NPC). Rasoul Ashrafzadeh said IIPGC had assessed development of downstream projects in the third petrochemical leap of the country.

Medical grade PVC compounds are widely used in manufacturing variety of products for pharmaceutical and hospital industries.

Iranian Minister of Petroleum Bijan Zangeneh said there had been talks with a number of domestic firms to develop the South Pars Oil Layer (SPOL). however no results have been obtained so far.

Iranian Oil Minister said that his country is going to set up 2 petrochemical plants in the North of the country near the Caspian Sea. adding that the new installations will be 100% eco-friendly and in full compliance with all environmental standards.

Caretaker of the Planning and Development Management of Iran’s National Petrochemical Company (NPC) said that the country is expecting two leaps in its petrochemical production in 2021 and 2025 to hit the yearly output of million tons in 5 years.

The diversity of petrochemicals produced in Iran is expected to be enhanced by 2025 as the country is planning to realize the sector’s second and third leaps by 2025.

As Iran’s largest petrochemical group which extends to 39 subsidiaries and foreign-based sales agents. Persian Gulf Petrochemical Industries Company (PGPIC) has been considered one of the most profitable entities in the country’s economic body.

The value of Iran’s petrochemical products would reach $37 billion by 2026. according to Iranian Oil Minister Bijan Zangeneh.