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Petchem Industry Supporting Downstream Industries

Petchem Industry Supporting Downstream Industries
(Saturday, December 24, 2022) 14:52

TEHRAN (NIPNA) -- The Director of Planning and Development of the National Petrochemical Company (NPC) said: “The petrochemical industry has turned about $12 billion of feedstock delivered to this industry last year into roughly $23 billion of valuable products.

Speaking on Monday at the national meeting of public relations of Iran's petrochemical industry, Hassan Abbaszadeh emphasized the important role of public relations in building culture and directing the development plans of the petrochemical industry.

Pointing out that the petrochemical industry received about 45 million tons of feedstock equivalent to 914,000 barrels of crude oil per day from upstream last year, he added: “This amount will reach about one million barrels of crude oil at the end of this [calendar] year, which will be converted into valuable products.”

The Director of Planning and Development of NPC underlined the current 65 production compounds and 3 utility complexes in the country with a production capacity of 90 million tons, and said: “This industry sold 35.7 million tons of products in the domestic and export market last year, which in total reaped around $23 billion for the country; it is estimated that the income of this industry will reach $27 billion this year.”

Abbaszadeh stated that last year the petrochemical industry received about $12 billion of hydrocarbons as feedstock, which has become $23 billion in this industry, and continued: “Therefore, the value created by this industry from raw materials has doubled. This shows the value creation of this industry.”

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