TEHRAN (Shana) - The CEO of the National Petrochemical Company (NPC) Behzad Muhammadi has said that the consumption of petrochemical feedstock in Iran would reach an equivalent of 2.2 million barrels per day of oil by 2026.
Mohammadi voiced NPC’s full support for the private sector, adding in the last 10 years, ceding project to state-owned and private holdings have increased, as at that time the issue of buying petrochemicals by the private sector was not raised, so semi-private holding companies went to buy petrochemical companies, but today the door is fully open for industry development and the National Petrochemical Company, as the custodian of the petrochemical industry, is ready to support investors.
He further added that 30% of the non-oil export market is owned by petrochemicals.
Kangan Petrorefinery Ready for Inauguration
The CEO of Kangan Petrorefining Company Hamid Ghaderi has announced the official commissioning of the project as one of the important and strategic projects of the second leap of the petrochemical industry in mid-February.
Ghaderi stated that the ethane recovery unit of the project has become operational, adding: "The ethane recovery project in South Pars with a capacity of 3.5 million tons is part of the Oil Industry Pension Fund and the Investment Company and is ready for official inauguration.”
He stated that construction of the project was carried out in less than five years on a land area of 65 hectares.
The unit of ethane recovery project of Kangan Petrorefinery includes the executive units of ethane extraction, propane, butane, C5 + and utilities.
The unit was bankrolled with €440 million and Rls. 31,000 bn.