Iran Localizing Petrochemical Products: Deputy Oil Minister
TEHRAN (Tasnim) – Iran’s deputy oil minister said that petrochemicals produced in the country are being indigenized.
Speaking on the sidelines of a domestic exhibition, CEO of the National Petrochemical Company (NPC) Morteza Shahmirzaei said 97% of the catalysts needed in the country were monopolized by the Western countries before but now 97% of the catalysts needed in the country are provided by domestic knowledge-based companies.
He went on to say that Iran’s petrochemical industry has attained self-sufficiency in many industrial sectors, IRNA reported.
Shahmirzaei drew a comparison between the progress of the oil and petrochemical industries before and after the Islamic Revolution and said Iran was heavily dependent on other countries in the oil and petrochemical sectors before the Islamic Revolution but presently, the country has attained self-sufficiency in various sectors of the oil industry.
Earlier, the chief executive of the NPC said that cooperation between Iran’s petrochemical sector and foreign companies has increased remarkably during the past two years.
The Iranian petrochemical industry has made great progress despite the cruel sanctions imposed by the US, he added.