June 7 (Bloomberg) -- Iran plans to raise its production capacity for petrochemicals by 5 million metric tons to 49 million tons in the current Iranian year, ending March 20, according to state-run Mehr news agency.
The report today, citing National Iranian Petrochemical Co. Managing Director Abdolhossein Bayat, didn’t give details about current output. Iran, the second-largest oil producer in the Organization of Petroleum Exporting Countries, faces trade and financial sanctions over its nuclear program, including a European Union ban on its crude that will start in July.
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