Speaking today at the 3rd Iran Energy Efficiency Conference and Exhibition, he said that the oil sector is a foundational industry, with 90% of the country’s economy dependent on it.

He mentioned the remarks of the Supreme Leader and his emphasis on optimizing energy consumption, adding that the Fund of Optimizing Consumption has crafted good plans that are hoped can improve the state of energy consumption in the country.

Referring to the fact that energy consumption in the country is twice that of other developing countries, he noted that 9.2% of the country’s gas is consumed in the petrochemical sector, which is not cost-effective for producing a petrochemical product.

The CEO said that culture-building, peak shaving, increasing production, and pricing policies are solutions to address imbalances,  announcing investing in fuel conservation yields returns equivalent to an investment of 7 to 10 billion dollars in the production sector.

Hoseinzadeh also pointed to energy wastage in the refining sector, stressing that the country should not produce gasoline using the methods of the 1960s and 1970s.