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Petchem Flares to Be Shut Down Within 3 Years: CEO

Petchem Flares to Be Shut Down Within 3 Years: CEO
(Saturday, February 3, 2024) 10:20

TEHRAN (NIPNA) -- In a strategic move towards environmental sustainability and increased self-sufficiency, the Deputy Minister of Petroleum and CEO of the National Petrochemical Company (NPC) announced plans to shut down flares in the petrochemical industry within the next three years. Simultaneously, the complete domestication of all petrochemical industry goods and equipment is set to be achieved.

Speaking during the fifth session of the Supreme Council for the Social Responsibility of the Petrochemical Industry, Engineer Morteza Shahmirzai, the Deputy Minister of Petroleum and CEO of the National Petrochemical Company (NPC), extended congratulations for the Fajr Decade, commemorating the glorious days of the Islamic Revolution. He emphasized that the development and strengthening of infrastructures in petrochemical regions would fortify the relationship between the industry and surrounding communities.

Despite challenges posed by opposition forces and adversaries of the Islamic Revolution, Shahmirzai highlighted the impressive progress of the petrochemical industry since the triumphant Islamic Revolution, even amidst the pressures of war and unjust sanctions. He proudly noted that the capacity of the petrochemical industry had grown from about 1.5 million tons in 1979 to an impressive 95 million tons today, representing a 60-fold increase in the country's petrochemical sector.

The NPC CEO asserted that the current era marks a shift towards reliance on internal capabilities, as the design, execution, commissioning, launch, and maintenance of complexes and petrochemical projects are now carried out using Iranian suppliers and manufacturers, freeing the country from dependency on foreign sources.

Discussing the indigenization of catalysts required by the petrochemical industry, Shahmirzai revealed that 95% of the necessary catalysts have been localized through the efforts of researchers and experts from the Petrochemical Research and Technology Company and collaborating entities. In terms of weight, this figure has reached 98%.

Shahmirzai praised the successful diplomacy of the petrochemical industry in the 13th government, highlighting the favorable opportunities for expanding collaborations with neighboring countries and allies. He stressed that relationships with these nations are currently expanding in various dimensions.

Regarding the shutdown of flares in the petrochemical industry, Shahmirzai declared it as one of the most important strategies of the NPC. He expressed optimism that, in less than three years, all flares in the industry will be extinguished with the collaboration of petrochemical holdings. This move aligns with environmental preservation goals, reduces crude sales, and contributes to the supply of necessary feedstock for petrochemical units.

The Deputy Minister of Petroleum concluded by emphasizing the importance of completing the value chain in the petrochemical industry to create more added value. He urged petrochemical companies to move towards producing final products, open doors for the youth, and inspire the new generation with the achievements of the petrochemical industry as a leading sector.

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