Iran Eyes Leveraging Petrorefineries to Reduce Crude Exports

The minister of oil discussed plans to reduce crude oil exports, emphasizing the importance of petrochemical refineries and mini-refineries.

Mohsen Paknejad noted that these initiatives are part of the legal framework outlined in the Seventh Development Plan (March 2024-29) and have been addressed in annual budgets. “Efforts are underway to maximize the activation of these capacities.”

Paknejad, addressing the Oil Ministry's agenda under the 14th administration, reiterated that petrochemical refineries and mini-refineries play a critical role in reducing crude exports.

He went on to say that these projects are supported by legal provisions in the Seventh Development Plan and are also reflected in the budget, with ongoing efforts to enhance their operational capacity.

Regarding Iran's chairmanship of OPEC meetings in 2025, Paknejad highlighted the significance of this leadership role for the country. He stated that Iran's constructive participation in such international structures is a key component of its energy diplomacy and can have a significant impact. - Shana