Iran’s National Petrochemical Company (NPC) Managing Director Behzad Mohammadi revealed the country’s petrochemical revenues target for 2027 at USD50 billion.
He expected that cumulative investment in the country’s petrochemical industry will reach USD125 billion in the next four years.
To achieve that target, the country plans to complete the projects defined in the second and third leaps of the petrochemical industry, and implement strategic projects defined in the fourth step of the smart development of the industry.
In the fourth leap of the petrochemical industry, 47 major projects have been defined to be implemented. They are classified into three sections: combined feed projects, new propylene production projects, and pioneering projects.
By the end of 2025, 50 petrochemical projects underway across the country will be operational, increasing Iran’s annual production capacity of petrochemical products to 135 million tons.
Mohammadi added that in the previous Iranian calendar year, the country received about 40 million tons of feed equivalent to one million bpd of crude oil worth USD6 billion from the oil industry, which was consumed in 67 petrochemical complexes.
By March 2025, the petrochemical complexes’ feed demand will reach the equivalent of 2.3 million bpd of crude.
