Iran to raise its petchem output by over 11% in year to March
Iran plans to increase its petrochemical output by more than 11% in the calendar year to late March as the country seeks to gain more revenue from its top export earner.
CEO of the state-run National Petrochemical Company (NPC) said on Wednesday that Iran’s production of petrochemicals would reach 83.5 million metric tons (mt) in the year to March 19, up from 75.2 million mt reported in the year before.
Hassan Abbaszadeh said that total petrochemical production capacity in Iran would also rise to reach 105 million mt this calendar year, an increase of nearly 8.7% from the year to March 2025.
Abbaszadeh said that Iran’s exports of petrochemicals reached a total of 29.2 million mt worth $13 billion in the past calendar year, adding that the industry sold some 13.1 million mt of products worth $11 billion to domestic customers over the same period.
He said that exports are expected to amount to $13.6 billion for 34.8 million mt of products in the year to March 2026, adding that domestic sales are forecasted to reach 16.1 million mt worth $10 billion over the period.
The official, who also serves as an Iranian deputy oil minister, said that the supply of natural gas to Iranian petrochemical plants would increase this calendar year with a project to recover 10 million cubic meters per day of gases that are normally flared or vented in the country’s oilfields.
The NPC chief said new petrochemical projects that are expected to come on line in the coming months would produce three new products to further diversify the sector’s output and increase its exports.
Petrochemicals are Iran’s main export earner, with shipments mostly reaching customers in West Asia and China markets.
Iran has introduced major plans to expand its petrochemical sector in recent years despite facing the US sanctions, which bar its access to foreign investment and technology.
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