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Iran's petrochemical exports hit US$5.3 billion


Iran exported US$5.3 billion worth of petrochemicals in the first five months of the current Iranian calendar year (March 21-August 21), according to the Iranian Oil Ministry.

Iranian Oil Ministry website SHANA published the figures which showed that the volume of the petrochemicals exports reached 7.3 million tonnes in the period, reported the Tehran Times.

According to the report, Iran now has an annual capacity of producing 54.4 million tonnes of petrochemical products. In the first five months of current Iranian calendar year, the output of petrochemical products reached 17 million tonnes.

The report predicts that Iran's petrochemical exports will increase to 19 million tonnes by the end of the current year.

Iran has expanded the range and volume of its petrochemical products significantly over the past few years, and the National Petrochemical Company (NPC) has become the second largest producer and exporter of petrochemicals in the Middle East.