New investment by petchem to raise gas output by 200 mcm: APIC
With the finalization of 10 gas field development agreements between petrochemical complexes and the National Iranian Oil Company, about $8 billion will be invested in the country’s gas fields, which will add nearly 200 million cubic meters to the country’s gas production.
Announcing the above, the director general of the Association of Petrochemical Industry Corporation (APIC) added that the petrochemical industry plays a fundamental and significant role in non-oil exports and the capital market, so it is necessary to help the development of the industry in order to increase exports, earn forex and create sustainable employment, IRNA reported.
“Iranian petrochemical complexes produced 15.864 million tons during the first six months of the current Iranian year (March 20-September 21), while the corresponding figure for preceding year stood at 15.204 million tons,” Ahmad Mahdavi-Abhari stated.
He went on to say that Iran earned $6.85 billion through the exports of petrochemicals during the six months to September 21, indicative of 12-percent rise compared to the relevant figure for the six-months to September 21, 2023.