the prestigious event on Sunday, Owji underscored the unwavering support of the
Ministry of Petroleum for companies and stakeholders in the petrochemical
sector, stating, "We are constantly working to resolve the issues faced by
these dear individuals."
the administration's determination to collect associated gas from oil fields
and utilize it for petrochemical feedstocks, Owji stated, "We will not
allow the national wealth of Iran to be burnt in gas flares."
pointed out the remarkable progress made in Iran's oil and gas production,
stating that Iran currently produces over 3.3 million barrels of oil and gas
liquids per day, a significant increase from the 78 million barrels stored at
the beginning of the current administration's term.
praised the IranPlast exhibition as one of the region's most prestigious international
events, with over 210 foreign companies and 640 Iranian companies, as well as
experts from the petrochemical and plastics industry, participating.
stringent sanctions, the minister confidently stated that these measures have
had minimal impact on the petrochemical sector, thanks to the presence of these
individuals and the positive developments within the industry.
highlighted the petrochemical industry's significance in terms of contributing
to Iran's economy, with approximately $16 billion worth of petrochemical
products exported to various countries worldwide last year. Owji also
emphasized that petrochemical products make up about 50% of Iran's non-oil
exports and are produced in 70 petrochemical complexes across the country.
the petrochemical industry as "sanctions-proof," Owji praised the administration's
planning efforts to boost production capacity and value chains within the sector
throughout its term.
highlighted the diversity of petrochemical products in Iran, ranging from
polymers and chemicals to fertilizers, aromatics, and hydrocarbon products, all
produced within these complexes.
particular emphasis on polymer products, stating that Iran had issued permits
for 20 million tons of polymer product production, with an installed capacity
of approximately 12 million tons per year. Currently, Iran produces around 7
million tons of operational polymers annually.
financial benefits of expanding the petrochemical value chain, Owji noted that
a simple ton of polymer product exports would generate an income ranging from
$900 to $1,000. However, if these polymer products are further developed into
finished goods, the income from exports could increase to approximately $5,000
to $6,000 per ton.
commended the investments made in polymer production, which serve as a
fundamental feedstock for the plastics industry. He pointed out that propylene
and ethylene, derived from gas refineries, are transformed into polypropylene.