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As reported by Shana, the deal was signed on Sunday by Jalal Mir-Hashemi, the NPC’s director for the production control and OICO’s Chairman of the Board Manouchehr Taheri, in a ceremony attended by senior officials including NPC Head Behzad Mohammadi.

Based on the mentioned deal, the operation, repair, and maintenance of the West Ethylene Transmission Pipeline, including pipelines and pressure boosting stations, has been assigned to OICO as the contractor.

Commissioned in 2012, WEP is the most important investment project by Iran’s petroleum industry for developing western areas of the country.

This pipeline is 2,700 kilometers long and feeds petrochemical plants in Kermanshah, Andimeshk, Lorestan, Kordestan, Miandoab and Mahabad.

The pipeline was approved by the government in 2002 for the purpose of compensating for creating jobs, engaging the private sector, stimulating production and upgrading technology in the western provinces. The project was initially supposed to become operational in 2007, but due to many changes, technical challenges, increased costs and insufficient budget allocation the inauguration was delayed.

WEP has the capacity of carrying 3.5 million tons of ethylene, 2.5 million tons of which comes from South Pars and the rest from Gachsaran. That would feed 12 petrochemical plants in the west of the country.

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as the export of such products is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

Facing the restrictions that the unjust U.S. sanctions brought about for the oil industry, its development has not been halted and, with a change in strategies, the Oil Ministry has been distancing itself from crude selling and is moving toward the production of products with more value-added.

One of the major areas for the realization of this goal has been the petrochemical industry, where a wide range of valuable products can be produced from Iran’s vast oil and gas resources.

Photo: NPC Director for production control Jalal Mir-Hashemi (L) and OICO’s Chairman of the Board Manouchehr Taheri signing agreement documents in Tehran on Sunday.

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The country’s petrochemical complexes produced 5.5 million tons of products in the mentioned month, according to Jalal Mirhashemi, NPC’s production control manager.

Mentioning the current year’s motto which is “Production: Support and Elimination of Obstacles”, Mirhashemi noted that the Iranian petrochemical industry is ready to achieve the goals of production growth in the current year.

“All conditions and infrastructure have been provided to achieve a leap in production in the Iranian petrochemical industry in the current year; with the measures taken this year, the idle production capacities of some existing complexes will also be revived,” he said.

He pointed to the full observance of health protocols and safety instructions in petrochemical complexes, saying that petrochemical units have always complied with safety requirements and also helped to produce raw materials needed by the healthcare sector.

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as the petrochemical export is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

According to Iranian Oil Minister Bijan Namdar Zanganeh, the country is currently producing nearly 70 million tons of petrochemical products annually and by the end of the industry’s second development leap, the country’s petrochemical production capacity is projected to reach 100 million tons per year.

The minister has pointed to the diversification of products, greater use of liquid feedstock, and land preparation, as some of the important factors to be taken into account for the future development of the petrochemical industry, and said: “In this industry, great work has been done in creating knowledge, indigenizing technologies, and cooperation with universities.”

The production capacity of Iran’s petrochemical industry is expected to be increased from 100 million tons to 133 million tons at the end of the third leap.

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TEHRAN (Iran News) – Iranian Oil Minister Bijan Zangeneh said the country’s petrochemical exports were at a satisfactory state.

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The report further emphasizes the importance of completing the value chain of the oil and gas industry to increase value added and prevent crude oil sales as one of the principles that has been underlined in the country’s Sixth National Five-Year Development Plan (2016-2021).

“According to French energy giant Total, by 2020 global demand for oil products will increase by 1.1 percent while the demand for polymers increases by 3.3 percent, so with this in mind, the creation of a hybrid system of refining and petrochemicals (petro-refinery) seems a necessity,” the report read.

Petrochemical industry is one of the most important pillars of Iran’s economy and one of the main suppliers of foreign currency especially euro for the country.

Iran is currently producing near 63 million tons of petrochemical products annually and with several new projects underway, the number is expected to jump over 65 million tons, further cementing the Islamic Republic’s stance as a major petrochemical supplier to the world markets.

The country also plans to establish a new petrochemical complex in Hormozgan Province adjacent to Persian Gulf waters, which will increase the country’s petrochemical output by 15 million tons per year.
Comprising of 14 petrochemical projects in Phase I, the new petrochemical complex will be constructed in the Parsian Energy Intensive Industrial Special Economic Zone (PEISEZ).

A wide variety of industries such as power plants, aluminum complexes and petro refineries are also going to be integrated into this new hub.

Accessing diverse liquid and gas feedstock is one of the main attractions of Iran’s petrochemical industry for investors, and it is safe to say that the industry is Iran’s most lucrative industry.

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The official noted that currently there are 64 petrochemical projects underway across the country with physical progresses between 20 and 99 percent.

“With the completion of the underway projects, the country’s petrochemical output will reach 92 million tons in the Iranian calendar year of 1400 and the industry’s revenues will hit $25 billion,” Mohammadi said.

He further noted that six of the above mentioned projects are feedstock supply projects and with these projects completed, the industry’s feedstock capacity is going to increase by 15 million tons.

According to the official, some $8.3 billion has been invested in these six projects which are going to create several projects in the industry’s downstream sector.

The official put the country’s current petrochemicals output at 55.5 million tons, of which 21 million tons is being exported to 30 different destinations across the globe.

According to the NPC managing director, the value of Iran’s petrochemical exports stands at $17.1 billion.

Earlier in May, Mohammadi had said that Iran’s petrochemical industry is not like oil and it is practically unsanctionable.

“For oil the ways of selling and the costumers are specific and limited but that is not the case with petrochemicals. There are hundreds of holdings which are eager for buying our diverse petrochemical products”, the official told the Tehran Times in a press conference on the sidelines of the 24th Iran International, Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2019).

“However, we are holding meetings with our customers to explore various aspects of possible impacts of the U.S. sanctions on our trade”, he added.

Petrochemical industry is one of the most important pillars of Iran’s economy and one of the main suppliers of foreign currency especially euro for the country.

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