Petrochemicals

The first preliminary agreement calls for constructing two polyethylene units plus an ethane cracker unit to convert ethane to ethylene.

PGPIC is Iran'.s largest petrochemical company with over 60 subsidiaries. owning more than 11% of Iran'.s capital market.

Exports amounted to 7.1 million tons in four months. up nearly 5% from 6.84 million tons in the same period of last year.

Petrochemical sales account for 34.7% of Iran’s non-oil exports and 39.1% of industrial exports in terms of value in the period.

Iran'.s petrochemical plants produced 18 million tons of products in the first 4 months of the current Iranian calendar year.

Iraq is the closest market to Khuzestan and the Iranian province has so far played a major role in exporting of gas to Iraq.

The project is strategic for Saudi Arabia. which plans to expand further into the petrochemical chain to export more end products and grow beyond oil.

Shell’s 50% share in the petrochemicals JV sold to SABIC for $820 million.

Iran’s exports of petrochemicals to Ukraine increased by 70% in the first 6 months of 2017 compared to the same period last year.

In the current calendar year to March 2018. the completion of four projects which had remained incomplete will add two million tonnes to the country'.s petrochemical production capacity.