Petrochemical sector becomes key economic pillar in Iran Increasing output and revenues from its petrochemicals sector has always been key to Iran’s ‘resistance economy’ model Petrochemicals have higher profitability margins than crude oil production in Iran Now that its Guriyeh-Jask oil pipeline has been finalised, Iran’s core focus in any sanctions environment remains the ongoing development of its huge West Karoun oil fields and its supergiant South Pars non-associated gas offshore sector, and the optimisation of its already world-scale petrochemicals sector. Increasing output and revenues from its petrochemicals sector has always been key to Iran’s ‘resistance economy’ model, the concept of generating value-added returns by leveraging intellectual capital into business development wherever possible. Regardless of whether a new iteration of the Joint Comprehensive Plan of Action (JCPOA) is reached with the U.S., Iran regards the continued development of the petrochemical sector as essential to its long-term economic survival and […]