In September, the National Iranian Oil Refining and Distribution Company announced plans to begin petrochemical production in areas close to Iran’s Caspian coastline. At the same time, Iranian ecologists expressed concerns regarding the ecological situation in the region being already dire and the risk of deterioration after the launch of petrochemical production.
“We plan to build two petrochemical plants near the Caspian Sea, which will be safe and 100 percent compliant with environmental requirements,” Zangeneh said.
As for oil refineries, the minister said that Iran so far has no interest in having them in the Caspian Sea, because it has not yet sourced oil in that area, and transporting crude oil from the country’s southern parts, where all key oil infrastructure in concentrated, all the way up to the northern coastline would bear no expediency.
The petrochemical industry in Iran has reached an acceptable level, and its output generates a revenue worth $18 billion. We plan for the profitability of the petrochemicals to reach $25 billion over the next two years and $37 billion within 6-7 years, Zanganeh said.
He added that he did not expect any major fluctuations of world oil prices in the near future.
“We use all methods, do every possible thing [for oil exports] and will not give up. Any means are good here. Oil export is our lawful right,” Zanganeh stressed.
The international Russian Energy Week forum runs from October 2 to 5 in Moscow.