Page 14 - DMEA Week 09 2022.indd

DMEA PETROCHEMICALS DMEA

Iran looks to increase

petchem feedstock capacity

MIDDLE EAST IRAN’S state petrochemical firm said this week the current Iranian calendar year was reported
that it intends to more than double the country’s by NPC at 32.8mn tonnes, representing an 8%
supply of feedstock for petrochemical projects by increase year-over-year.
the end of the decade. According to Jalal Mirhashemi, NPC produc-
Speaking to the official Shana energy sector tion control director, the company’s priority is to
media outlet, Morteza Shahmirzaei, CEO of the meet domestic needs, and then exports are han-
National Petrochemical Co. (NPC) said that the dled. Meanwhile, in August the NPC managing
feedstock level would increase from the cur- director Behzad Mohammadi said that Iranian
rent 1.1mn barrels per day (bpd) to 2.6mn bpd revenues from petrochemicals are seen rising to
by 2030, alongside a major expansion of petro- $50bn per year by the year 1406, which starts in
chemical production capacity. March 2027.
At present, the Islamic Republic’s petchem “By completing the projects defined in the
industry has a production capacity of around second and third leaps, and the implementation
90mn tonnes per year (tpy), he said, which NPC, of strategic projects defined in the fourth step
ambitiously, anticipates rising to 200mn tpy by of the smart development of the petrochemical
2030. industry, achieving a goal of generating $50 bil-
Shahmirzaei said: “By doubling the amount lion of revenue can be realized in the horizon of
of feedstock supplied to petrochemical com- 1406,” he was quoted as saying by Shana.
plexes by the end of the eighth development plan, “For the fourth leap, a total of 47 new projects
high value-added products will be produced that have been defined and classified into three sec-
are not comparable to the current output.” tions: combined feed projects, new propylene
The official’s comments align with figures production projects, and pioneering projects.
provided by Oil Minister Javad Owji, who said With the implementation of the fourth leap
in December that petrochemical capacity would projects by 1406, the cumulative investment in
reach 130mn tpy by March 2026. the country’s petrochemical industry will reach
Production during the first six months of $125bn,” he added. ™

P14 www. NEWSBASE .com Week 09 03•March•2022