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Speaking to Shana, Farnaz Alavi, a member of NPC's board of directors, said Iran will add 50 to 60 million tons of petrochemicals to its annual production capacity by 2021.

"The Sixth Plan has envisaged an investment of $35 billion for implementing petrochemical projects and various means have been defined for drawing the amount whose success will depend on foreign investors as well as international credit lines," she said.

Alavi added that a certain portion of the output will be used as feedstock by supplementary facilities while 40 percent-50 percent will be sold on the domestic and international market as end products.

She had earlier said that the development plan has defined 28 petrochemical projects for direct financing by foreign investors.

Ever since the removal of the US-led sanctions on Iran's vital economic sectors in January 2016, the country is seeking to position itself as the region's top supplier of highly valued petrochemical items.

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Japan took in 308,000 barrels per day (bpd) of Iranian crude in the period, 117,000 bpd more than what it imported a year earlier, the report said.

Iran sits on the fourth place behind Saudi Arabia, the UAE and Qatar among the exporters of crude to Japan which brought in 3.32 million barrels per day (mbd) in May.

Saudi oil exports fell three percent in the period from a year earlier to 1.2 million barrels per day, according to the Japanese ministry data.

The report said Iran is seeking to raise its crude shipments and establish itself as the third exporter to Japan.

Japan was one of the key clients of Iranian oil with 338,000 bpd of imports before Western sanctions on the Islamic Republic in 2012. During years of the sanctions, the Asian country continued to import crude from Iran, though at limited volumes, under a preliminary nuclear agreement.

Iran hosted several leading Japanese companies in its oil and gas projects before the sanctions were imposed.     

After the removal of sanctions, Asian imports of Iranian oil have risen sharply. Iran's oil flows to Europe have also begun to pick up after a slow start.

Before 2012, Iran exported around 2.3 mbd, with more than half going to Asia, mainly China, South Korea, India and Japan.

Iran’s oil production has already hit the highest level in the past five years. Since December, Iran’s oil production has climbed by 740,000 barrels a day to 3.63 million in June.

On Monday, Mohsen Qamsari of the National Iranian Oil Company (NIOC) said the country has regained about 80 percent of the market share it held before 2012.

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