Iran ready to export its petrochemical knowhow: Minister

25 Apr '13

2 min read

Iran is all prepared to export its technical knowledge in petrochemical production and services thereof, Iranian Oil Minister Rostam Qassemi has said.

Speaking on the sidelines of inauguration of the first phase of Bandar Imam Khomeini Petrochemical Complex in Southwestern province of Khuzestan, the Minister said Iran has achieved the ability to share its knowledge and services concerning construction of petrochemical complexes.

Earlier, Head of the Union of Oil, Gas and Petrochemical Products Exports, Mr. Hassan Khosrojerdi, noted that over the next five years, Iran’s petrochemical production would reach the levels to allow the country to discontinue domestic as well as overseas sales of crude oil, FARS News Agency reported.

Briefing the Oil Ministry’s website he said, even if they discontinue sales of crude oil, the ongoing petrochemical projects would generate enough revenues to offset the loss of revenues from crude oil sales.

Mentioning feedstock and raw material supply as the main hurdles in the way of privatization of the industry, he said, in accordance with Article 44 of the Constitution, around 90 percent of the main activities in the Iranian petrochemical sector have been privatized.

However, he said, the industry needs to upgrade its standards, so as to achieve the objectives laid down in the country’s 20-year vision plan.

Also, he said that in view of the key role that private sector is playing and considering the interdependence of petrochemical projects, the Government would also have to show readiness to extend financial assistance to the industry.

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