Gas outage reduces petrochemical exports by $1.3 billion

According to Energy Press, the Secretary General of the Petrochemical Industry Employers Association explained this issue: If this is true, it is good news for petrochemicals. Ahmad Mahdavi Abhari said: The procedure is always that at the beginning of each year, we present our foreign exchange needs to the Ministry of Oil and the Central Bank with the participation of the National Petrochemical Company, and this becomes our foreign exchange budget in a way. According to Mahdavi Abhari, the petrochemical industry generally has two types of foreign exchange consumption: one is related to production needs, including catalysts, parts and raw materials, and the second is foreign exchange needs for the development of projects. The Secretary General of the Petrochemical Industry Employers Association continued to explain: These foreign exchange needs may include 30 or 40 percent of the industry’s foreign exchange, and this figure is different every year. In general, this figure has never reached 50 percent, which is due to sanctions and the like. According to him, according to the goals of the Seventh Plan, at least 10 to 15 billion investments should be made, and if an average of 3 billion dollars is spent during these 5 years, we will achieve these goals. In other words, in the Seventh Plan, we have projects that require about 20 to 24 billion dollars of capital, half of which has been spent so far, and the rest is to be used from the industry’s domestic currency. Mahdavi Abhari said: “Consider that the petrochemical industry has given about 7 billion dollars to NIMA during the first 9 months of this year, and this figure was while the industry’s total exports were 9.5 billion dollars.”