Iran eyes three-fold increase in propylene output
Iranian authorities say the output of propylene, a key hydrocarbon derived from oil and gas refining, would increase by more than three times in the new near future.
Head of Iran’s National Petrochemical Company said on Monday that production of propylene in the country will hit a record of nearly four million tons a year once a total of seven projects related to the product become operational.
Behzad Mohammadi said a current annual output of 900,000 tons of propylene, produced in two refineries and six petrochemical complexes, is only serving the growing domestic demand.
Iran’s export of petrochemicals is on rise as the country seeks to offset the impacts of US sanctions on its oil industry through the sale of refined products.
Reports earlier in the day suggested that a 10,000-ton consignment of gasoline was available for export for the first time in Iran’s history.
Authorities said the export of gasoline, a product once totally dependent on imports, had become possible after a successful expansion program in a major refinery south of the country.
That comes as Washington has imposed massive restrictions on Iran’s ability to directly sell its oil to traditional customers in Asia and Europe.
However, data provided by Iran’s customs administration suggest that petrochemical exports still account for more than 30 percent of Iran’s non-oil exports with more than $14.1 billion worth of refined products exported from the country in the 12-month period ending March 2019.
The data shows that China, the United Arab Emirates, Iraq, Turkey and India have remained the main destination for export of Iran’s petrochemical products since November when the American sanctions began.
China alone imported more than $1.6 billion worth of petrochemicals from Iran between November 2018 and March 2019, shows the data.
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