Farhad Bashiri, a member of the Parliament’s Article 90 Commission,
emphasized the critical role of the petrochemical industry in Iran’s economic
development during an interview with NIPNA. “While exporting crude oil to meet
the country's budgetary needs is permissible under the law, relying solely on
crude sales for foreign currency reserves remains the biggest challenge in the
oil sector and perpetuates the cycle of raw material exports,” he said.
Bashiri underscored the need to shift focus toward the production of
downstream petrochemical products. “Developing the downstream value chain
creates opportunities for private and small-scale investments in the
petrochemical sector, fostering growth and innovation,” he noted.
He added that the mere conversion of crude oil into intermediate
products does not suffice. “We need to ramp up production in complementary and
downstream sectors of oil, gas, and especially petrochemicals to move beyond
raw exports and maximize economic benefits,” Bashiri said.
Highlighting the potential of petrochemical industries, he stated, “By
boosting complementary industries, we can create employment opportunities that
are several times greater than those generated by crude oil sales, while also
achieving substantial value addition.”
Bashiri stressed the importance of maintaining Iran’s position in the
global and regional petrochemical markets, leveraging the country’s abundant
resources. “We must ensure that Iran’s petrochemical industry remains
competitive and expands its presence in international markets,” he concluded.
The Parliament's focus on completing the petrochemical value chain
aligns with broader national efforts to reduce dependence on crude oil exports
and promote sustainable economic growth through industrial diversification.