Speaking at the opening ceremony of the “Petrofan 1403” conference on Sunday, Hassan Abbaszadeh noted that the petrochemical industry is a crucial link in the oil industry's value chain, inherently tied to technology.

He stated that one cannot engage in the industry’s processes without having the necessary technology at hand.

Abbaszadeh mentioned that the Iranian petrochemical sector has now entered its middle age, saying, “Innovation in this industry is essential for our survival. The processes in the petrochemical industry often have long lifespans and need to be updated. We must focus on refining and improving these processes.”

He addressed the state of exports and imports in the industry, revealing that the petrochemical sector exports approximately $15 billion in products annually. In contrast, about $2 billion worth of goods and equipment are imported each year, $700 million of which is handled by subsidiaries of the Persian Gulf Holding Company and this presents a strong opportunity for domestic production.

In addition, Abbaszadeh noted that each year, around $2 billion worth of petrochemical products not produced in the country are imported.

“A major reason for the lack of domestic production of certain petrochemical products is the absence of the required technical knowledge,” the deputy minister added.

He mentioned the NPC has developed 20 strategic packages to address this challenge, which are currently available to petrochemical firms and investors. “Some of this technical knowledge is being introduced for the first time, although he acknowledged there is still more work to be done.”

Abbaszadeh highlighted the importance of indigenizing production in the petrochemical industry, noting that a new management unit for research, technology, and domestic production has been established within the NPC.

He went on to say that this unit aims to identify capable NTBFs and connect them with petrochemical firms to prevent foreign currency outflow and enhance local capacities.

Addressing the interconnectedness of petrochemical holdings, Abbaszadeh stated, “We strive to enhance coherence and collaboration among petrochemical holdings to leverage existing synergies within the industry.”