Economy
Tue Sep 15, 2020 6:42
Minister: Iran Doing Well in Exporting Oil, Petrochemical Products despite US Economic War
TEHRAN (FNA)- Oil Minister Bijan Zangeneh condemned the US economic war against Iran, and said that the country is doing well as one of the largest exporters of oil and petrochemical products in the world.

The Iranian oil minister lauded the rise in output of the South Pars gas field in recent years, and said, "In 2005, the production in South Pars gas field was 140 million cubic meters that the amount hit 280 million cubic meters in 2015, and in the current year it has reached 700 million cubic meters."

Referring to petrochemicals increase in order to avoid crude sale, Zangeneh said, "We had been able to increase the production of petrochemicals from 12 million tons in 1996 to 66 million tons in 2019 the amount of which is expandable to about 100 million tons in 2021."

He blasted the US for trying to impose a full-scale economic war against the Iranian nation in all dimensions, and said that "as one of the largest exporters of oil products in the World, We are doing well in the fields of petrochemical exports".

The Gore-Jask pipeline is  one of the solutions to circumvent sanctions, he said, adding, "This pipeline will be completed by the end of the current Iranian year (will end on March 20, 2021) that through of which about one million barrels of crude oil will be exported."

In relevant remarks in early July, Deputy Oil Minister Behzad Mohammadi said 17 projects will come online in the current year, and added Iran’s petrochemical industry will experience a golden year.

Mohammadi said the 17 projects, with an investment of $11.5 billion, will be launched by the end of the current Iranian calendar year (March 20, 2021). 

The projects would add 25 million tons to our annual production capacity and bring it to 90 million tons, he noted and added that the current calendar year is the golden year for the petrochemical industry.

The first of these projects was Miandoab Petrochemical Project which became operational in late June.

 

 

 

 

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