Petrochemicals

A member of the Iranian parliament’s presiding board underlined the necessity of supporting petrochemical industries in order to curb sale of crude oil and gas.

The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U.S. shale field to seek protection from creditors.

The U.S. Energy Department is considering renting space in the nation’s emergency oil reserve to domestic producers awash in crude, according to three people familiar with the matter who asked not to be identified before a formal announcement.

The output of Noori Petrochemical Plant stood at 106% of the planned output in the current Iranian calendar year which began on March 20, 2019.

Iran’s export of petrochemical products increased 5 percent in the 10 months of the current year (from March 21. 2019 to Jan. 20. 2020).

Saudi Aramco’s planned purchase of the region’s biggest petrochemical company comes as it targets downstream investments in a move away from relying on crude oil sales.

In March 2019. Aramco announced the deal in a key move towards its diversification into refining and petrochemicals.

Economic fortification is the only way to get out of the current conditions in the country.

Iranian manufacturers had successfully localized building of compressors and extruders in the petrochemical industry.

The supreme adviser to presidential deputy for technical and scientific affairs underlined the importance of the petrochemical industry in generation of wealth for the country.