Petchem output grows 4% despite sanctions

Petchem output grows 4% despite sanctions

Iran said its petrochemical output has increased by at least 4 percent year-on-year despite the sanctions the country endured most of the current Iranian calendar year started March 21, 2015.

Abbas Shari-Moqaddam, deputy oil minister for petrochemical affairs, told Shana that the growth is not as much as it should because of the sanctions.

Shari-Moqaddam, who also heads Iran's National Petrochemical Company (NPC), said the sanctions limited the country's access to equipment and facilities needed for launching new phases of the supergiant South Pars gas field which was planned to supply more feedstock to petrochemical plants across the country during the year.

"According to the plans, the country expected to raise its petrochemical production capacity by at least 10 percent year-on-year which was only 4 percent achievable due to the limitations," he added.

Last month, Iran launched two new phases of South Pars that are expected to supply 2 million tons per year of feedstock to Kavian Petrochemical Plant by mid-2017.

Iranian petrochemical plants have produced 38 million tons of products since March 21, 2015.

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