Iranian petrochemical production and exports grew by 8% and 5% respectively between July 2021 and April 2022, and reached 32 million tons and 22 million tons compared to a year ago.
Based on data from the National Petrochemical Company's news website Nipna, the sector’s nominal output capacity is around 75 million tons, but shortage of feedstock and not having a strong presence in global markets do not permit the industry to operate at full capacity, the Energy Today website reported.
The nominal production capacity of 67 major petrochemical complexes, mostly concentrated in the cities of Mahshahr (Khuzestan Province) and Asalouyeh (Bushehr Province), is forecast to reach 90 million tons by March 2023, with actual output forecast to reach 42 million tons in seven months.
Of the total production (32 million tons) over the 10-month period, close to 22 million tons were sold in international markets and generated about $14 billion in revenues. The figure experienced a 5% rise in volume and 62% growth in value compared with the corresponding period of a year ago.
The rest of the production (10 million tons) was sold domestically and earned half as much as export revenues.
NPC’s annual output was 3 million tons in 1979, which has now reached 60 million tons.
According to Hassan Abbaszadeh, NPC’s director for planning and development, 920,000 people are active in the industry and a rise in NPC’s production by 1 million tons can create jobs for at least 170,000 more people.
He noted that over 30 projects have been planned to reduce the import of petrochemical products worth $1 billion.