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Iran Petchem Industry Plays Key Role in Non-Oil Export Growth: Lawmaker

Iran Petchem Industry Plays Key Role in Non-Oil Export Growth: Lawmaker
(Monday, January 6, 2025) 16:44

TEHRAN (NIPNA) – Iran’s petrochemical industry has emerged as a critical driver of non-oil export growth and foreign currency earnings, according to a member of the Iranian Parliament’s Energy Commission.

Speaking to local media, Mostafa Nakhai highlighted the significant strides made by the petrochemical sector over recent decades. “With its robust infrastructure and reliance on domestic capabilities, Iran’s petrochemical industry has advanced toward completing the value chain and reducing crude sales,” Nakhai said.

He emphasized the industry's potential in bolstering the national economy. “Iran’s geographical advantage compared to other gas-rich nations positions us well to expand downstream petrochemical industries,” Nakhai explained, adding that the sector's unmatched capacity enables it to deliver a diverse range of products to domestic and international markets.

Nakhai stressed the sector's upward trajectory in enhancing non-oil exports. “The growing progress in petrochemicals demonstrates its essential role in diversifying exports. Achieving greater value addition and addressing every link in the value chain is imperative for further development,” he noted.

Despite external pressures, Nakhai expressed confidence in the industry’s resilience, crediting its skilled workforce for driving achievements. “While facing adversaries’ sanctions, we have made remarkable progress in this sector. With efficient human resources, we can meet our goals and continue to succeed,” he said.

The lawmaker reaffirmed Parliament’s commitment to supporting the petrochemical sector. “To reduce crude sales, the Iranian Parliament will undoubtedly back the expansion of petrochemicals. This industry requires national determination and support to stay on its development path,” Nakhai concluded.

Iran’s petrochemical sector has long been a cornerstone of the country’s economic diversification strategy, leveraging its abundant natural gas resources to produce high-value products for global markets.

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