Hassan Abbaszadeh, speaking about the forex generated from petrochemical exports, explained that since 2018, the monitoring of export revenues has been conducted under a coordinated program.

At the beginning of each year, in collaboration with petrochemical companies, a plan is prepared based on projected production, domestic sales, export targets, and foreign currency needs, including the procurement of chemicals, catalysts, spare parts, and project implementation. This plan is then submitted to the Central Bank of Iran (CBI).

Abbaszadeh noted that the foreign currency earned from exports, except for amounts allocated for the procurement of chemicals, catalysts, spare parts, and project implementation under the supervision of the NPC, is directly transferred to the banking system through the NIMA system (Integrated Forex Management System) and the Gold and Currency Exchange Center, in accordance with CBI regulations. The CBI then utilizes these funds based on its priorities and currency policies.

The NPC CEO emphasized that petrochemical companies, under the direct supervision of the NPC and in compliance with the latest CBI directives, have successfully reinjected export revenues into the national economy.

He stated that the performance of exports and the reinjection of foreign currency into the economy in the first 11 months of the Iranian calendar years 1402 and 1403 were nearly identical, amounting to $9.14 billion, showing no significant change.

Abbaszadeh acknowledged minor fluctuations in export volumes from March 2024 to February 2025 compared to the same period last year, attributing these variations to export challenges, including unilateral and unjust sanctions. However, he stressed that the overall performance of the petrochemical industry in exports remained consistent with the previous year.

Regarding the petrochemical industry’s export revenue in 1403, Abbaszadeh reported that total exports over the 11-month period reached around $12 billion, with $9.14 billion reinjected into the economy.

He projected that by the end of the current Iranian calendar year (March 20), the petrochemical industry’s foreign currency earnings would increase by an additional $800 million to $1 billion, bringing the total annual exports to approximately $13 billion.

Abbaszadeh attributed discrepancies between the reported export values and the amount of forex reinjected into the economy to differences between the CBI’s figures and the self-reported data of petrochemical companies. He suggested that some of these discrepancies might stem from petrochemical products exported by independent companies not monitored by the NPC.

He further emphasized the necessity for the NPC to access the Iran Gold and Currency Exchange Center’s commercial forex trading system to promptly monitor the performance of petrochemical companies.

The NPC has already initiated the necessary correspondence and follow-ups with the Ministry of Industry, Mine, and Trade and the CBI to expedite this access, with expectations of cooperation from the CBI to facilitate the process.