Getting to know Iran’s petrochemical holdings; this is Parsian Oil and Gas

According to Energy Press, in the series of reports on “Getting to Know Iran’s Petrochemical Holdings,” this time we have gone to Parsian Oil and Gas Holding; a key player that owns nearly one-fifth of the country’s petrochemical production capacity and, relying on large complexes such as Pardis and Zagros, has become Iran’s largest urea producer and an important player in the global market.
Global Position and Production Capacity
Parsian today owns about twenty percent of the country’s total nominal production capacity of petrochemical products and, with a nominal capacity of nearly nineteen million tons per year, ranks eighty-third in the world and fifth in the Middle East and Africa. This group produces a diverse portfolio of thirty different products, twenty-one of which are directly petrochemical. Ninety-five percent of this portfolio consists of basic and commodity-oriented products, and only five percent is dedicated to specialized and high-value-added products. Urea, ammonia and methanol are the three main products of this holding, which have made Parsian the largest urea producer in Iran and a major player in the global market.
Key Petrochemical and Refining Subsidiaries
This holding owns or has major shareholders in seven large petrochemical complexes, four of which are managed by management shares and three others by non-management shares. Pardis Petrochemical, with 70% ownership by Parsian, is the largest producer of urea and ammonia in the Middle East and has a nominal capacity of 5.26 million tons per year. Zagros Petrochemical also holds the title of the largest methanol producer in the Middle East with a production of 3.3 million tons of methanol per year and supplies about 2% of the world’s methanol. Shiraz, Kermanshah, Tabriz, Pars and Khorasan petrochemicals are other members of this large family. In the refining sector, Parsian owns three refineries in Tabriz and Shiraz with management shares and the Bandar Abbas refinery with non-management shares, which have a total capacity of 520,000 barrels per day and cover 23 percent of the country’s refining capacity.