An NPC official said Iran’s petrochemical exports to Europe experienced a twofold increase in the first seven months of the current Iranian year as compared with the same period last year.

Director of Production Control in Iran’s National Petrochemical Company (NPC) Alimohammad Bosaghzadeh expressed satisfaction towards production volume of Iranian petrochemicals in the first seven months of the current Iranian calendar year (March 20-October 21); “the figure rose up by six per cent as compared with the corresponding period a year ago.”

The official touched upon oil price fluctuations and their effects on competitive conditions of the market in the Persian Gulf explaining “current situations harm all parties, NPC, however, seeks to control prices in the Middle and Far East.”

Deputy oil minister announced that Iran has achieved the technical knowledge to produce polypropylene as a strategic petrochemical product.

He further noted that large portion of Iran’s petrochemical exports are made to Far East and countries such as India, China and South Korea.

Bosaghzadeh also stressed that Africa offers good conditions for imports of Iranian petrochemical products and efforts are being made to boost export figures to the African region.

Bosaghzadeh said that good talks were made about petrochemical exports to Europe in Germany’s Düsseldorf during K Trade Fair from 19 to 26 October.

Iran’s petrochemical exports are being deployed to the western and eastern Europe

“Currently, Iran’s petrochemical exports are being deployed to the western and eastern European states like Germany, Britain and Hungary,” he underscored.

The official said that Iran’s petrochemical output hit 28.7 million tons during the first four months of the current Iranian year adding “over 21 petrochemical complexes have had surplus output in the time frame spanning from March 20 to October 21.”

“Conditions of Iran’s petrochemical industry became more favorable as a result of several measures take in the first half of the current Iranian year including overhaul in both upstream and downstream, feedstock supply as well as diverse production,” the NPC official continued.

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