Petrochemical production to reach $ 25bln within next Iranian year: Oil min.

Tehran (IP) - Iran's oil minister announced that the capacity of the petrochemical industry will reach 100 million tons per year (worth $ 25 billion) as the remaining 'Production Surge' projects of this sector complete within the next Iranian year.

Iran PressIran News: At the inauguration ceremony of Iranian Oil Ministry's national projects which was held via videoconferencing today (Thursday) in the presence of President Hassan Rouhani, Minister of Oil Bijan Namdar Zanganeh stated that the main goal of the ministry in the petrochemical sector is to move beyond crude sales, complete the value chain, and meet the domestic needs.

He announced that the three projects inaugurated today are worth more than one billion dollars of investment.

These three oil and petrochemical projects were inaugurated today in a condition that Iran has been dealing with the most severe oil sanctions in the last three years. However, this economic war against the Iranian nation could not stop the development of oil in the country.


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