Ahmad Mahdavi-Abhari, secretary general of the Association of
Petrochemical Industry Employers, said the sector had played a key role in
supporting the national economy and energy security despite sanctions and
challenging conditions.
Speaking at a meeting between the oil minister and petrochemical
industry representatives, Mahdavi-Abhari said more than 98% of the sector’s
foreign exchange repatriation obligations had been met.
“In the first six months of this year, Iran recorded $26 billion in
non-oil exports, of which $10 billion was returned, and $5 billion of that
amount came from the petrochemical sector,” he said.
He added that, in addition to the $6.7 billion supplied to the exchange
centre over nine months, around $2 billion had been retained and used directly
by petrochemical companies.
Mahdavi-Abhari said global price declines had weighed on export
revenues, estimating that petrochemical exports could have reached $13.6
billion this year under more favourable conditions, but were now expected to
total between $11.5 billion and $12 billion.
He said Iran’s petrochemical industry had generated more than $170
billion in export revenues since the early 2010s, with virtually no losses, underlining
the sector’s importance to the national economy.
Mahdavi-Abhari also noted that petrochemical companies were investing
in gas field development, energy efficiency projects and power generation,
contributing to energy supply beyond their core industrial role.
According to him, the industry is expected to add around 4,500
megawatts of new power generation capacity by June next year.
He warned that export duties introduced under Iran’s seventh
development plan could undermine non-oil export growth targets, which call for
annual increases of 23%, arguing that punitive measures would not accelerate
value-chain development and that the sector required time, capital and
technology to move up the value chain.