According to a report, an Iranian deputy petroleum minister says feedstock price to Iranian petrochemical plants will be finalized within before April 23, but it will be sold at 8.2 cents/btu to the plants in the first half of the current calendar year (started March 20).
Mohammad Mahdi Rahmati, deputy petroleum minister for planning and supervision on hydrocarbon resources, said the ministry will finalize pricing of feedstock in a fortnight.
He said the price is determined based on parameters like domestic consumption of gas, the price it is being traded in 4 international hubs including the UK's NBP and Netherland's FFT, and Iran's exports and imports in the 6 preceding months.
However, "the exact price based on these parameters is yet to be calculated and is not definitive," he said.
This is the first time that feedstock price for petrochemical plants is being determined based on a new formula, he said.
Rahmati further said the 8.2cent/btu is not fixed and may swing one or two cents.