Pars Oil & Gas Company announces Iran’s petrochemical exports hit $7 billion

Islamic Republic of Iran exported petrochemical products worth 7 billion dollars during the first seven months of current Iranian calendar year, began 20 March 2012.Speaking yesterday at a conference on investment in petrochemical sector, deputy minister of petroleum for petrochemicals, Abdolhosain Bayat, made the remarks adding during the mentioned period the country exported 10 million tons of petrochemicals implying high level of demand for Iran’s petrochemical products.

He said Iran’s petrochemical industry is moving toward development and in its direction considers backing investors as an important target.

Bayat added: Successful holding of Iran Plast Exhibition showed that petrochemical industry and especially complementary industries enjoy great potentials for development and the chain of production in petrochemical sector moves toward completion with an acceptable speed.

‘Iranian government and Petroleum Ministry are ready to cooperate with domestic and foreign investors in the way of developing complementary industries in petrochemical sector that aims at generating value-added and completion of production chain’, Bayat noted.

According to Bayat, Islamic Republic of Iran can make good foreign exchange revenues through development of complementary industries due to its geographical position and having access to export destinations including neighboring countries markets.

Elsewhere in his remarks, Bayat said that domestic consumption of petrochemical products rose by 6 percent over the past seven months adding if domestic consumption directed toward complementary industries it will followed by development of petrochemical sector in coming years.

Source: Pars Oil & Gas Company

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