Given the extreme unlikelihood of the U.S. returning to the currently structured Joint Comprehensive Plan of Action (JCPOA), and Iran’s unwillingness to renegotiate the deal any time soon , the Islamic Republic remains focused on three key areas where it can make money despite ongoing sanctions form Washington. 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. Iran’s petchems sector now accounts for over 30 per […]