Speaking at a meeting with petrochemical industry representatives to
mark National Petrochemical Industry Day, Petroleum Minister Mohsen Paknejad
said the sector’s issues should be followed up through a joint working group to
ensure more effective and constructive engagement.
“The current conditions require that productive sectors receive
special support,” Paknejad said, noting the industry’s familiarity with the
country’s economic constraints.
He said the sensitivity surrounding petrochemical companies’ foreign
exchange commitments highlighted the sector’s strong influence on the currency
market and broader economic indicators.
“The significant share of petrochemicals in GDP, employment and
value-chain completion means their issues must be prioritised and addressed,”
he said.
Paknejad added that several challenges under the petroleum ministry’s
remit, including feedstock supply, pricing and pricing mechanisms, were
solvable and would be pursued by the ministry’s planning department.
On energy pricing, the petroleum minister said sustained profitability
could not rely indefinitely on subsidised feedstock and that a gradual move
towards more realistic pricing was necessary, while preserving industry
returns.
He acknowledged that energy imbalances had forced some industrial
activity to slow or halt, but stressed that gas supply to households and commercial
users remained a red line.
Paknejad encouraged petrochemical companies to participate in gas
field development, saying any additional gas production would directly benefit
the sector as the government seeks to ease energy shortages.
He proposed forming a joint working group led by the petroleum ministry’s
planning deputy and including petrochemical industry representatives to
continuously monitor issues and raise key challenges at government level.
The minister also called on petrochemical companies to play a greater
role in social responsibility initiatives, particularly in education, in line
with priorities set by President Masoud Pezeshkian.
Paknejad praised petrochemical firms for their contribution to flare
gas collection projects, saying the most effective measures in this area had
been carried out by the sector and should be expanded further.