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The 15th Annual APS Conf. In Tehran - Larry Wheeler.

H.E. Mohammad Reza Nematzadeh, Deputy Petroleum Minister and President/CEO of Iran's National Petrochemical Co. (NPC) and formerly Minister of Industry, chaired the 8th Session on petrochemicals.

Larry Wheeler, a Houston-based Petrochemicals Consultant, said significant petrochemical expansion plans are being developed by Iran, Saudi Arabia, Qatar and Kuwait. Because so many projects are scheduled to be on stream within a brief period of time (2003-2006), there could be severe industry over-capacity and extreme competition among Middle East producers for limited markets. As the petrochemical business decline of 2001 reflected the reality of an industry that is cyclical and prone to over-capacity, "implementation of expansion plans should proceed cautiously. Timing of each project should be reviewed for minimum market disruption and only the most competitive project should proceed".
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Publication:APS Review Gas Market Trends
Date:Feb 25, 2002
Words:128
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