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Optimization, Energy Cost Reduction: Key Strategies for Iran Petchem Industry

Optimization, Energy Cost Reduction: Key Strategies for Iran Petchem Industry
(Wednesday, April 24, 2024) 11:46

TEHRAN (NIPNA) - Deputy Minister of Petroleum and CEO of the National Petrochemical Company (NPC) emphasized the importance of optimizing operations and reducing energy costs as key strategies for Iran's petrochemical industry in 1403.

Speaking at a meeting of petrochemical CEOs based in the Mahshahr region, southwestern Iran, Morteza Shahmirzaei highlighted the significance of these strategies in achieving the industry's goals for the current year.

"I am pleased to witness the favorable conditions of production units in the Mahshahr hubs today. The complexes in this area, relying on domestic capabilities, managed to achieve the highest level of productivity and production last year, and I hope to see even more accelerated production growth this year," Shahmirzaei stated.

He identified reducing energy costs and optimizing energy consumption as one of the industry's main strategies for the current year, emphasizing the crucial role of petrochemical companies in preserving intergenerational resources through energy optimization.

Shahmirzaei also stressed the importance of utilizing all of the country's capacities in achieving complete self-sufficiency. "If equipment or parts are produced domestically, petrochemical companies must procure their purchases from Iranian producers and suppliers, and under no circumstances should similar foreign goods or products be imported," he asserted.

Allocation of 40% of profits to value chain completion

The CEO of the National Petrochemical Company identified the most important strategic plan of the petrochemical industry for the current year as capacity growth and production surge. "With the goal of completing the value chain, a more coherent plan should be adopted to diversify the petrochemical product basket," he added.

He further stated, "Petrochemical companies must adhere to the laws, regulations, and all existing procedures in the region," and emphasized the special importance of corporate social responsibility in current circumstances, urging petrochemical companies to be committed to their responsibilities.

Shahmirzaei continued, "Petrochemical complexes that want to benefit from a five percent feed discount must allocate 40% of their income to the development of the petrochemical industry."

Morteza Shahmirzaei, during his one-day visit to the oldest petrochemical hubs in the country, while visiting the Abadan, Ghadir, Fanavaran petrochemical complexes, export terminals, and reservoirs, held a specialized meeting to discuss the concerns of petrochemical companies in realizing this year's slogan.

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