Speaking Saturday at a meeting with NPC's managing director and senior managers, Hamid Bovard underlined the industry's considerable weight in the country's economy, saying it has substantial potential for creating added value and income.

Pointing to the need to reinforce NPC's regulatory and sovereign role within the industry, he said the matter must be pursued seriously and clarified in its various dimensions, adding: "I will support you in every respect along this path."

Petrochemical markets must be managed carefully

The acting minister said that, in cooperation with other bodies, the state of the market, product prices and supply mechanisms must be closely examined and managed, adding that this approach lays the ground for proper use of the industry's capacities.

Noting that petrochemical products feed into the manufacture of a wide range of goods used in people's daily lives, Bovard said the industry's activity is not limited to producing and exporting base products but also meets a significant share of the country's downstream industries' needs.

Calling for greater attention to the industry's potential, he added that existing capacities should be harnessed to create jobs, raise output, generate income and strengthen the economy. He said petrochemical development can bring notable economic and social benefits, which makes it a matter of great importance.

Petrochemical entry into field development should be pursued in earnest

On ways to secure sustainable feedstock, the acting minister said the petrochemical industry's entry into developing the country's oil and gas fields, with the aim of ensuring stable feedstock, should be on the agenda and pursued with seriousness.

Stressing the need for fundamental steps to sustain petrochemical exports and foreign-currency earnings, Bovard said efforts should be made to strengthen exports so that the revenue they generate is returned to the national economy.

He also underscored the importance of following through on plans to rebuild petrochemical units damaged in the third imposed war, saying reconstruction must be pursued with determination and every available capacity used to speed it up.

All stakeholders should work toward the country's goals

Expressing appreciation for the efforts of petrochemical managers and colleagues, the acting minister said the industry brings together a wealth of experience and expertise, and everyone involved is expected to work with renewed motivation to advance national goals.

Citing the oil industry's strong performance in the first half of this year and during the third imposed war, despite the conditions and constraints, Bovard said this trend must continue with vigor. He called on everyone to work with self-confidence and extra motivation and to pick up the pace so that the goals can be achieved.

In closing, he voiced readiness to help advance the petrochemical industry's development plans, saying that, in his position, he would give whatever help and support he could, within his means, to resolve problems and move things forward.