Iran net exporter of benzene amid growing global demand

A major Iranian petrochemical plant has significantly boosted its output of benzene, which is a key ingredient in detergent manufacturing, helping the country to launch exports amid a growing global demand for the product that has been caused by the spread of the coronavirus.  

The Iranian Oil Ministry said in a Sunday report that Iran is now facing a surplus in benzene output a year after it reached self-sufficiency in manufacturing the product.

The report said Iran had become a net exporter of benzene thanks to increased output at Bouali Sina Petrochemical Company (BSPC), a major plant located on the Persian Gulf in the southwestern port of Mahshahr.

BSPC’s sales manager said that benzene output in the company had reached 85,610 metric tons in the year to late March, an increase of 8% compared to the previous calendar year.

“This increased output ... has allowed the country to rely on domestic production to respond to rising consumer demands for detergents during the pandemic,” said Ardalan Sedaghatzadeh.

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Sedaghatzadeh said benzene exports by the BSPC had significantly boosted the company’s profits the calendar year to March.

He said the BSPC had benefited from growing demand for benzene during the pandemic as the product is extensively used in production of detergents.

The Oil Ministry official added that lower costs of transportation had also helped the company gain more from benzene exports in recent months.

Facing American bans that hamper its direct sale of crude, Iran has executed massive development plans in the petrochemical sector in recent years to boost domestic output and boost jobs.

Government figures show petchem products have accounted for a bulk of Iran’s hard currency revenues since the United States imposed its sanctions on the country in 2018.

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