Zangeneh: Iran Eyes 100mn Tons of Petrochemical Output

Date: 27 May 2020 - 21:47

News ID: ۷۸۹۹۹

TEHRAN (Dispatches) – Iranian Petroleum Minister Bijan Namdar Zangeneh has said the country’s petrochemical production capacity is planned to cross 100 million tons per year by the end of the current fiscal (March 2021).
Zangeneh underlined the most important plans of his ministry this year, added, "We must all take steps in the current difficult situation with interactive spirit to solve the problems of the people and ensure the development of the country. Now is not the time to deal with marginal issues.”
He said the continued development of West Karoon fields, operation of the second petrochemical industry leap projects, completion of South Pars offshore sector and implementation of phase 11 operations, implementation of crude oil transfer pipeline from Goreh to Jask and the completion of rural gas supply projects are among the main plans of the Oil Ministry this year.
Zangeneh also said that Iran’s petrochemical revenues are projected to reach $25 billion during this fiscal year.
He said, "One of the other programs of this ministry is that gas condensate should not be placed directly on the export track and according to the plans made, it should be refined and turned into products in Persian Gulf Star and Siraf refineries.”
The veteran minister added that Siraf Refinery, southern Iran, produces products such as naphtha that are again used to feed petrochemical units. "Siraf Refinery is a refinery that can produce valuable products at the lowest cost. Other refineries typically need an investment of $30,000 per barrel of oil, while Siraf needs only $7,000 to $8,000 of investment if it is to produce gasoline. If the refinery just produces naphtha, it doesn’t need more than $5,000 to $6,000 in investment.”
Elsewhere, he referred to the situation of Iranian gas exports to Turkey, saying, "Iran’s gas pipeline to Turkey, which was damaged due to an explosion in the Turkish soil earlier this year, has not been repaired, while no more than a few days are needed for repairing the line. Iran has said it is ready to help repair the gas pipeline, but the offer has not been welcomed by the other side.”
Currently, Iran is exporting one million cubic meters per day of gas to Armenia and Iraq through two gas routes. Moreover, a small amount of gas is being swapped with Azerbaijan and Nakhichevan, he added.