The demand for Iranian petrochemical products from European countries has increased in the first half of the current Iranian fiscal year, Ali Mohammad Bossaqzadeh, director of production control at National Petrochemical Company (NPC), said.
Besides exporting the petrochemical products to traditional customers, in particular in southern and southeastern Asia, Iran has also exported the products to European markets, Bossaqzadeh said.
He further said that demands for Iran’s petrochemical products are also in rise from the Latin American and African countries.
Bossaqzadeh added that Iran has exported 10 million tons of petrochemical products during the first half of the current fiscal year, expressing hope that the increasing trend will continue in the remaining months of the year.
Iran produced 46.4 million tons of petrochemicals during the last fiscal year, but for the current year, the figure is planned to reach 54.7 million tons.
The country’s actual production capacity is around 61 million tons per year, but the shortage of natural gas as feedstock, old production units and the sanctions which have dropped exports, have caused petrochemical complexes to work at a lower capacity.
Iran hopes to bring the capacity to 100 million tons by 2020 and 160 million tons by 2025.