Home / Knowledge / News / Textiles / Don't reduce feedstock supply to petchem units: Iran govt
Don't reduce feedstock supply to petchem units: Iran govt
29
Jul '14
The Government of Iran has issued instructions to oil refineries and petrochemical units to not to reduce their feedstock supply to downstream petrochemical units, reports Shana.
 
The order issued by Iran’s Minister of Petroleum Bijan Namdar Zanganeh states that oil refineries and petrochemical units are not allowed to reduce the amount of feedstock delivery to downstream sector’s facilities unilaterally.
 
The Minister said that refineries and petrochemical units should continue delivery of feedstock to the downstream petrochemical plants according to pre-privatization levels, unless the downstream sector units want to change their agreement to taking lower levels of feedstock.
 
The new order was sent by the Minister to the National Iranian Petrochemical Company (NPC), National Iranian Oil Refining and Distribution Company (NIORDC), and the department of planning and supervision on hydrocarbon resources at the Petroleum Ministry for enforcement.
 
However, the price of feedstock would be decided bilaterally between the supplying refineries and petrochemical units and the downstream sector’s officials, according to the Minister.
 
In the first quarter of the current Iranian calendar year that started on March 21, 2014, Iran’s petrochemical exports increased by six percent year-on-year, according to the NPC.
 
During the quarter, production of petrochemical industries increased by 6.5 percent year-on-year, owing to increased efficiency and a decrease in work stoppage instances at petrochemical units.
 
In the last calendar year, Iran’s petrochemical exports increased by about one percent year-on-year to US$ 10.723 billion. Asian, African and Eastern European countries were the main buyers of Iran’s petrochemical products.
 
In the current Iranian calendar year, Iran’s petrochemical exports are likely to touch $12 billion.
 
Iran has the world’s largest natural gas reserves and the third-largest proven oil reserves. The country is now aiming to become the biggest petrochemical producer in the Middle East region, and it has significantly expanded the range and volume of its petrochemical production over the past few years.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Prime Minister Theresa May speaking on the UK government's negotiating objectives for exiting the EU. Courtesy: UK government

Textiles | On 18th Jan 2017

UK to pursue trade agreements with other countries

The United Kingdom will pursue free trade agreements with the EU and...

Courtesy: Alibaba Group

Apparel/Garments | On 18th Jan 2017

Alibaba forges global alliance to fight counterfeiting

Jack Ma led Alibaba Group has forged an alliance with various global...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search