• About Us
  • Subscription
  • Contact Us
Thursday, June 12, 2025
  • Login
Iran Times
  • Home
  • What’s the News
    • All
    • baygani
    Shah’s Grand Daughter Weds American In New York

    Shah’s Grand Daughter Weds American In New York

    Fruit Peddler To Hang For His Protest Poetry From Buying Texas Land

    Fruit Peddler To Hang For His Protest Poetry From Buying Texas Land

    UK Arrests Two Bands Of Iranians For Plotting Attacks

    UK Arrests Two Bands Of Iranians For Plotting Attacks

    Storms Pound Many Parts Of Iran, Killing Nine

    Storms Pound Many Parts Of Iran, Killing Nine

    Snatch And Grab Thievery Now All The Rage

    Snatch And Grab Thievery Now All The Rage

    Cousin Murders TV Hostess For Her Wealth

    Iranian Student In Alabama To Self-Deport Despite Withdrawal of Initial

    Iranian Student In Alabama To Self-Deport Despite Withdrawal of Initial

    Novel Tells Story Of Five Women In A Family That Leaves Iran For America

    Novel Tells Story Of Five Women In A Family That Leaves Iran For America

    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

  • Diaspora
  • Economy
    Banks Must Keep More Money On Hand

    Banks Must Keep More Money On Hand

    Russian Says Iran Watermelons Unsafe

    Russian Says Iran Watermelons Unsafe

    Iran Not To Be Self-Sufficient In Wheat This Year

    Iran Not To Be Self-Sufficient In Wheat This Year

    Opec Pumps More Crude, Just When Its Not Needed

    Opec Pumps More Crude, Just When Its Not Needed

    Lithium Deposits Being Hyped By Some in Iran

    Lithium Deposits Being Hyped By Some in Iran

    Despite Trump, Iran Sells China More Oil

    Despite Trump, Iran Sells China More Oil

    Despite Revolutionary Goals, Iran’s Exports Still Mostly Oil-Based

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    The Oil Patch

    The Oil Patch

  • Tidbits and Morsels
  • Latest

    Drone Attack That Killed 3 US Troops in Jordan Could Have Been Foiled

    Iranian-Canadians Reportedly Turned Away at US Border

    Iranian-Americans: an Account of Integration and Achievement

    Jamshid Myth

    Two Cabinet Ministers Convicted in $3.4B Case of Corruption at Tea Firm

    Two Cabinet Ministers Convicted in $3.4B Case of Corruption at Tea Firm

    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

    Subsidized Currency Stays

    Crypto Crackdown Seen as Fueling Rial Collapse

    Iran no Longer Advances Clocks at Now Ruz

    Iran no Longer Advances Clocks at Now Ruz

  • About Us
  • Advertising
  • Subscription
No Result
View All Result
  • Home
  • What’s the News
    • All
    • baygani
    Shah’s Grand Daughter Weds American In New York

    Shah’s Grand Daughter Weds American In New York

    Fruit Peddler To Hang For His Protest Poetry From Buying Texas Land

    Fruit Peddler To Hang For His Protest Poetry From Buying Texas Land

    UK Arrests Two Bands Of Iranians For Plotting Attacks

    UK Arrests Two Bands Of Iranians For Plotting Attacks

    Storms Pound Many Parts Of Iran, Killing Nine

    Storms Pound Many Parts Of Iran, Killing Nine

    Snatch And Grab Thievery Now All The Rage

    Snatch And Grab Thievery Now All The Rage

    Cousin Murders TV Hostess For Her Wealth

    Iranian Student In Alabama To Self-Deport Despite Withdrawal of Initial

    Iranian Student In Alabama To Self-Deport Despite Withdrawal of Initial

    Novel Tells Story Of Five Women In A Family That Leaves Iran For America

    Novel Tells Story Of Five Women In A Family That Leaves Iran For America

    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

  • Diaspora
  • Economy
    Banks Must Keep More Money On Hand

    Banks Must Keep More Money On Hand

    Russian Says Iran Watermelons Unsafe

    Russian Says Iran Watermelons Unsafe

    Iran Not To Be Self-Sufficient In Wheat This Year

    Iran Not To Be Self-Sufficient In Wheat This Year

    Opec Pumps More Crude, Just When Its Not Needed

    Opec Pumps More Crude, Just When Its Not Needed

    Lithium Deposits Being Hyped By Some in Iran

    Lithium Deposits Being Hyped By Some in Iran

    Despite Trump, Iran Sells China More Oil

    Despite Trump, Iran Sells China More Oil

    Despite Revolutionary Goals, Iran’s Exports Still Mostly Oil-Based

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    The Oil Patch

    The Oil Patch

  • Tidbits and Morsels
  • Latest

    Drone Attack That Killed 3 US Troops in Jordan Could Have Been Foiled

    Iranian-Canadians Reportedly Turned Away at US Border

    Iranian-Americans: an Account of Integration and Achievement

    Jamshid Myth

    Two Cabinet Ministers Convicted in $3.4B Case of Corruption at Tea Firm

    Two Cabinet Ministers Convicted in $3.4B Case of Corruption at Tea Firm

    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

    Subsidized Currency Stays

    Crypto Crackdown Seen as Fueling Rial Collapse

    Iran no Longer Advances Clocks at Now Ruz

    Iran no Longer Advances Clocks at Now Ruz

  • About Us
  • Advertising
  • Subscription
No Result
View All Result
Iran Times
No Result
View All Result

Giant gas refinery opens to beef up petrochems

May 14, 2021

The immense Parsian Sepehr Gas Refinery became operational April 15 in Fars Province.

“Costing $1.1 billion, the natural gas liquid (NGL) recovery plant has an annual capacity of 3.2 million tons of NGL. It will help complete the value chain and develop the downstream petrochemical sector,” Gholam-Hossain Nozari, head of the firm’s board of directors, was quoted as saying by the Oil Ministry news portal.

It took five years to build the plant.

The huge facility will receive 70 million cubic meters of natural gas from the Homa, Tabnak, Varavi and Shanoul gas fields in Fars Province each day and produce 3.2 million tons of ethane, propane and butane as feedstock to petrochemical plants in Assaluyeh, Bushehr Province, via a 63-km pipeline, Nozari said.

“An estimated 16 mcm of methane will also be produced annually for feeding the national gas grid.”

NGLs are a group of hydrocarbons, including pentane, ethane, propane and butane. These are differentiated from one another by the number of carbon atoms in their molecular chain. They have a wide variety of applications ranging from specialized fuels (propane, butane) to petrochemical feedstock to manufacture plastics and fertilizers.

In related news, the Iranian Labor News Agency (ILNA) quoted Behzad Mohammadi, managing director of the National Petrochemical Company, as saying  three projects costing $6.4 billion to boost NGL feedstock are in different stages of construction and are scheduled to come on stream by 2023.

The projects are chiefly aimed at collecting and using flared gas from the southern oil and gas fields.  Iran flares huge quantities of gas, which wastes resources and adds to pollution.  It has a declared goal of capturing most of gas now flared.

“Three natural gas liquid projects, namely Dehloran Gas Refinery in Ilam Province, Kharg NGL Plant on Kharg Island in the Persian Gulf and the NGL 3200 project in Khuzestan Province, are being completed.”

According to Mohammadi, NGL 3100, a venture to collect and process associated petroleum gas from oilfields in Ilam and Dezful, will get six million cubic meters of gas per day from the Dehloran, Paydar, West Paydar and Cheshmeh oilfields.

In addition to the Sepehr Gas Refinery, two propylene and polyethylene catalyst units, worth $10 million, went on stream in Shazand County in Markazi Province April 15.

The units have an annual capacity of 32 million tons, which meets nearly half the demand of the domestic market, the NPC chief added.

Catalysts are key to producing petroleum, polymers and chemicals, and the petrochemical industry’s growth is intertwined with catalyst production. Likewise, production of most key chemicals depends on catalysts.

 

 

 

 

 

IMF says ‘official rate’ drives inflation

The multiple foreign exchange rate system in Iran is one of the main drivers of inflation in the country, the director of the International Monetary Fund’s Middle East and Central Asia Department said.

The IMF expects inflation in Iran to rise further this year and called for reforms as the economy recovers from the coronavirus crisis.

The IMF’s Jihad Azour said, “To address the issue of inflation, it’s important to address the issue of the multiple currency regime that exists in Iran, and this is something that would help not only address inflation but also improve the overall macroeconomic stability.”

The official rate has been set at 42,000 rials to the US dollar since 2018, but the open market rate has risen and is now around 250,000 or six times the official rate.

In 2019, the Central Bank of Iran set up a third currency trade platform, known as Nima (the Farsi acronym for Integrated Forex Deals System) where exporters sell their currency earnings to companies importing non-essential goods. Nima currency rates are usually lower than in the open market but higher than official rates. A dollar recently sold for 230,000 rials at Nima.

Successive governments in Tehran have intervened in the currency market and, as a matter of policy, stuck to multiple rates to prop up the national currency. However, the efforts have been in vain.

The dilemma of multiple exchange rates is a decades-old frustration for manufactures, businesses and economists who have repeatedly urged the government to stop selling some dollars for 42,000 rials for essential imports, mainly food and medicine. The highly controversial policy has led to rent-seeking and rampant corruption that the state has tried but failed to control.

Azour said reforming the financial sector and state-owned enterprises should be a priority, as well as providing more space to the private sector, which would help create jobs.

Iran asked the IMF last year for $5 billion in emergency funding to help fight the coronavirus outbreak. Azour said the request was still being studied “in order to get the necessary information to assess the balance of payments need and also the repayment capacity and debt sustainability.”

The government in Tehran says the loan request has been denied by the global lender due to pressure from the United States, the largest shareholder of the bank, which is said to have an “effective veto” over IMF policy.

Previous Post

The Oil Patch

Next Post

Where have all of Iran’s currency reserves gone?

Related Posts

Banks Must Keep More Money On Hand
Economy

Banks Must Keep More Money On Hand

Russian Says Iran Watermelons Unsafe
Economy

Russian Says Iran Watermelons Unsafe

Iran Not To Be Self-Sufficient In Wheat This Year
Economy

Iran Not To Be Self-Sufficient In Wheat This Year

Next Post
Where have all of Iran’s currency reserves gone?

Where have all of Iran’s currency reserves gone?

SECOND HIGHEST EVER

SECOND HIGHEST EVER

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About Us
  • Contact Us
  • Advertising
  • Subscription
  • Culture
  • Economy
Call us: +1 (202)-659-9868

© 1970-2025 Iran Times - ‬An‭ ‬Independent‭ ‬Newspaper

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • What’s the News
  • Diaspora
  • Economy
  • Tidbits and Morsels
  • Latest
  • About Us
  • Advertising
  • Subscription

© 1970-2025 Iran Times - ‬An‭ ‬Independent‭ ‬Newspaper

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version