Total, Shell propose to invest in Iran’s petrochemical sector
“Total and Shell have formally put forward requests for investment and establishment of new petrochemical plants,” Shahdaei said.
She also added that they are exchanging opinions at present and Total and Shell will get involved in Iran’s petrochemical industry if they solve issues.
Officials reported that many companies from South Korea, Japan, Spain, France, Italy, Germany, the Netherlands, and the US are also ready to invest in petrochemical projects in Iran.
Most of Iran’s foreign earnings are from the oil and petrochemical industry and almost $12.8 billion worth of petrochemical products were exported by Iranian companies in the previous year.
Iran became the second biggest petrochemical producer and exporter in the Middle East and its petrochemical products’ range and volume has grown on a large scale in the last few years. Sixty million tons of petrochemicals are produced by the country in a year.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops
- Tight supply keeps expectations bullish in Turkey’s PVC market
- End of China’s ‘zero-COVID’ stance: Double-edged sword for Asia PVC, PP and PE markets
- Mid-Eastern sellers approach China, SE Asia and Turkey with firmer PP, PE prices for Jan
- Egypt’s local PE, PP markets head north as pound plunges to new low
- Styrenics markets reverse slump after months-long downtrend in Europe