Iranian Oil Minister Javad Owji said on Sunday that the country “will export crude oil and gas condensates wherever it wants”.
Speaking at the opening ceremony of the 17th IranPlast International Exhibition at the Tehran International Permanent Fairground, the minister added that Iran is producing as much as 3.3 million barrels a day of oil and gas condensates which are either consumed inside the country or shipped abroad.
He said the key petrochemical industry boosts foreign currency inflow, fetching Iran nearly $16 billion in 2022.
Given the world’s growing demand for its upstream and downstream products, the petrochemical industry is “unsanctionable”, noted Owji.
He said petrochemicals account for nearly 50 percent of Iran’s aggregate non-oil exports and are produced in 70 complexes across the country.
The administration of President Ebrahim Raeisi has outlined plans for boosting production in the upstream sector and completion of value chain,” continued the minister.
The Iranian complexes are producing a wide range of petrochemicals, including polymers, chemicals, fertilizers, aromatics, and hydrocarbons, Owji stated, adding that “the permit for producing 20 million tons of polymers in the country has been issued while the sector’s installed capacity is around 12 million tons per year and the real production is some 7 million tons.”