Iranian petrochemical profits hit USD25B over trade increase
Date
12/26/2024 1:40:22 AM
(MENAFN) Iran's petrochemical field is projected to surge its international exchange profit to more than USD25 billion, strengthened by fresh trades in natural gas output, based on Ahmad Mahdavi, who serves as Secretary-General of the Iranian Petrochemical Employers’ Association.
Addressing regional news, Mahdavi showed that more than 8 deals have been inked to resolve the nation’s Natural gas supply imbalance and finance in gas sectors. These deals, amounting to USD8.0 billion in investment, are anticipated to boost daily gas output by 200 million cubic meters.
According to a News Agency, the fresh plans are scheduled to be accomplished by the close of Iran’s Seventh National Development Plan (2026). Once effective, they are estimated to highly strengthen the international currency revenue led by the petrochemical field, placing it as a major sponsor to Iran's economy.
Mahdavi pressed the Oil Ministry and government to restructure authorizing procedures to advance trades in this pivotal field. He highlighted that these initiatives might significantly alleviate the country’s gas supply deficit while backing up manufacturing development.
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