Hassan Abbaszadeh, the CEO of the National Petrochemical Company (NPC), announced at a press conference during the 29th Oil, Gas, Refining, and Petrochemical Exhibition that Iran’s current petrochemical capacity has reached 97 million tons. He stated that last year, around 42 million tons of final petrochemical products, valued at $24 billion, were produced. Out of this amount, 29 million tons worth $13 billion were exported, and 13 million tons worth $11 billion were sold in the domestic market.
Abbaszadeh highlighted the development plans for the petrochemical industry by 2025, noting that 15 new petrochemical projects with a total investment of $6 billion are set to be inaugurated this year, adding 8 million tons to the sector’s capacity. Among these projects, only one uses gas as feedstock, and three new products will be added to Iran’s petrochemical portfolio for the first time. This expansion will increase the industry’s total capacity to 106 million tons by the end of the year, with an estimated actual production of around 83 million tons.
He also pointed to the completion of the “NGL 3100” project as one of the key feedstock supply initiatives, scheduled to be operational by September. Additionally, the flare gas recovery project by Maroon Petrochemical Company is another major ongoing development.
The NPC CEO noted a $4 billion investment in four feedstock supply projects, stating: “With the commissioning of these projects, 900 million cubic meters of gas per day from flare recovery and 850 barrels of condensates per day from NGL 3100 will be returned to the petrochemical industry.”
Expansion of Export Markets and Strengthening Presence in Neighboring Countries
Abbaszadeh emphasized plans to expand export markets and announced the unveiling of three new technologies in petrochemical projects. He stated that maximizing the use of domestic manufacturers’ capabilities is a strategic priority. He also pointed out comprehensive plans for expanding export markets, mentioning the President’s visit to the petrochemical booths during the exhibition, where he stressed the importance of diversifying export destinations beyond the current markets.
The CEO added that systematic studies of target markets in various countries are currently underway. Once completed, a dedicated export plan for petrochemical products will be drafted for each country, clearly identifying the products with export potential.
He also mentioned the President’s emphasis on expanding exports to neighboring countries such as Iraq, Pakistan, Afghanistan, and Turkey. These nations are now prioritized in marketing strategies, and documents related to these markets are being prepared so that government officials can leverage these opportunities during international visits.
