Hassan Abbaszadeh, Iran’s deputy oil minister and CEO of the National
Petrochemical Company (NPC), told reporters that increasing value-added
production aligns with national policies and is a key objective for the 14th
government.
“The petrochemical industry is the most crucial link in preventing crude
exports,” Abbaszadeh said, according to state media Nipna. “By the end of this
administration, we aim to fully integrate the value chain.”
His remarks came ahead of a regional development council meeting in
Asaluyeh, where he attended the inauguration of the Pad Jam Polymer project, a
subsidiary of Jam Petrochemical Company. The $620 million investment converts
semi-finished petrochemical materials into high-value products. The first
phase, completed at a cost of over $400 million, is operational, while the
second phase—set to produce rubber—will be completed by 2026.
Petrochemical Companies to Aid Gas Field Development
Abbaszadeh noted that petrochemical firms are also playing a role in
gas field development, citing efforts to capture flared gas to secure
feedstock. “Flare gas recovery is underway in both western and eastern Karoun,
and companies are also working on similar projects in Asaluyeh,” he said.
He acknowledged feedstock limitations for petrochemical plants due to
inefficient domestic gas consumption and said companies have now stepped in to
support gas field expansion projects to ensure stable supplies.
Iran has been ramping up investments in petrochemical projects to
enhance revenue streams and reduce dependence on raw material exports amid
international sanctions.