Alongside the continued development of its huge West Karoun oil fields , the completion of the supergiant South Pars non-associated gas offshore sector (including the implementation of Phase 11 operations ), and the finalisation of the crude oil transfer pipeline from Guriyeh to Jask , Iran’s core focus in the current sanctions environment is to optimise the output and revenues from its already world-scale petrochemicals sector. This has always played a key role in Iran’s ‘resistance economy’ model – the concept of generating value-added returns by leveraging intellectual capital into business development wherever possible. In the last week or so, Iran has launched another three major petchems projects and discussed further co-operation with Russia in the sector. In sanctions terms, Iran’s petchems sector has always occupied a somewhat grey area from the legal perspective. “When the previous set of major sanctions were at their height [2011/12], Iran’s petrochemical industry […]