The petrochemical industry is a fast growing and rapidly diversifying industry. In a relatively short period of time, after its appearance some sixty years ago, it has progressed from virtually nothing to an important ingredient in the world's economy so much so that today petrochemical products have entered many facets of our everyday lives. The ongoing trend of growth and expansion in this industry is most conspicuous in regions where feedstock, particularly natural gas, is readily available. As the result of the availability of the petrochemical feedstock required for the industry's expansion, the Middle East has established itself as a leading player in the field of petrochemicals. Compared to many countries rich in hydrocarbon resources, Iran's petrochemical industry has a variety of readily available advantages for expansion.

Among these advantages, are huge gas reserves at competitive prices and a growing domestic market, which position Iran as an emerging market for the petrochemical industry. IPF 2000, held on May 6-7 in Tehran, was a fresh opportunity for NPC, the mainstay of Iran's petrochemical industry, to present itself as a well-positioned place for foreign investment. Given the fact that the value of petrochemical products are substantially higher than those of the oil and gas, it is natural that the industry should expand itself in Iran in order to take advantage of the added value in the market.

The attendance at IPF 2000 of over 120 participants representing 90 foreign companies and institutions from across the world underlines the fact that international companies and institutions have come to realize the benefits of investing in Iran's petrochemical industry.

The bulk of the May issue of NPC News Bulletin concentrates on the highlights of some the presentations and speeches made in IPF 2000. We will bring you excerpts of the remaining speeches in the forthcoming issues.