Iran’s export of petrochemical products decreased by 29% in 2019, according to the country’s deputy petroleum minister for petrochemical affairs.
A total of 23 million tons of petrochemical products worth $10 billion were exported last year while 8 million tons worth $5 billion were consumed inside the country, Behzad Mohammadi, who is also the chief executive officer of the National Petrochemical Company (NPC), said in a press conference on Monday.
Total revenue from the country's petrochemical industry in 2019 amounted to $15 billion and by the end of 2021, Mohammadi said this figure would increase to $25 billion.
In comparison, Iran exported $14.1 billion of petrochemical products in the period from March 2018 to March 2019.
He said the country’s petrochemical industry received 35 million tons of feedstock equivalent to 800,000 barrels of crude oil per day from the oil industry, with this figure expected to increase to 1.5 million barrels when new projects become operational.
By Sibel Morrow