Petrochemicals

OVer past four years. crude oil price had declining trend or from around $100 per barrel in year 1391 reached to less than 40 dollars in the year 1394. which affect world petrochemicals market as well.

Talks revolve around the transfer of technology and investments in several petrochemical projects in Iran.

State refiners have a 230 million tone-a-year refining capacity and a petrochemical production capacity of 915 million tone-a-year. which are being expanded.

The company is following closely emerging security needs in the Gulf area. including in the oil and gas industry.

Total and Iran earlier signed a 20-year contract worth $4.8 billion to develop South Pars gas fields’ 11th phase.

As of today. SOCAR investments in Turkey reached about $19.5 billion. a part of which has been invested in the Star refinery.

The field belongs to the fields’ zone of Kyzylkum depression. which is located not more than 200 meters above the sea level.

Development of petrochemical plants is one of the key issues on the Rouhani administration'.s agenda.

Iran aims to attract more than $70 billion for dozens of new petrochemical plants in line with plans to double its petrochemical production capacity in five years.

Annual report gives little away on IPO. but offers hints about downstream plans.