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Mehdi Ghaemi: Iran Should Recover Petrochemical Industry

Iran Petrochemical Industry

During the recent years, Iran’s petroleum industry has heavily suffered from international sanctions on Iran’s economy. According to these embargoes, foreign countries are banned from buying petrochemical products including but not limited to oil and gas from Iran. Current customers are also required to diminish petrochemical imports from the country.

Mehdi Ghaemi, the former Deputy Minister of Economy, says the Iranian government should try to recover the petroleum industry as soon as possible in order to ‘save’ the nation’s economy from international sanctions.

“Unfortunately the top customers of Iran’s petroleum industry have withdrawn from buying oil and gas from the country. This has made many problems for the Iranian economy.” Mehdi Ghaemi said at a press-conference held on Tuesday.

Ghaemi suggests that Iran’s next president, Hassan Rouhani, should undertake working methods to save the economy. “I strongly believe that Hassan Rouhani can make significant changes to these conditions. But he should take action wisely as the situations are serious and critical.”

Mehdi Ghaemi urged the government to fully support Iranian universities for instructing experts in petroleum industry. “As a matter of fact, a large number of experts and administrators have retired, and the former government had failed to appoint suitable replacements. Currently, statistics show that Iran lacks human resources in this sector. If Iran wants to make progress in this industry, more budgets should be allocated to universities.”

“On the other side, National Iranian Petrochemical Company didn’t manage to achieve its main aims in recent years. Only a few petrochemical projects have been completed and inaugurated in these years.” The former Deputy Minister of Economy added. National Iranian Petrochemical Company (NIPC) is responsible for the development and operation of the country’s petrochemical sector.

As Iran is an energy superpower, the country’s petroleum industry plays an important role in local economy. Currently, it represents about 20 percent of gross domestic product (GDP) in Iran.

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