Petrochemicals

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.

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.