Iran’s downstream braces for the challenge
Iran’s downstream sector is almost as important for the country’s economic and strategic goals as the headline-hogging upstream
The Iranian downstream energy industry faces many of the same problems as its upstream counterpart - a lack of finance and foreign investment, and difficulty in accessing equipment and technology, largely but not entirely because of sanctions. The country's five-year energy plan post-sanctions involved spending about $70bn in petrochemicals and $14bn in refinery upgrades. The petrochemicals strategy is focused largely on making the most of Iran's giant, low-cost production of gas and associated natural gas liquids (NGLs) production. Iran's refining sector development has three key, related aims—to increase the output of lighter products; to minimise the yield of low-value fuel oil; and to el

Also in this section
22 July 2025
The gas-hungry sector is set for rapid growth, and oil majors and some of the world’s largest LNG firms are investing in ammonia production and export facilities, though much depends on regulatory support
22 July 2025
Next year’s WPC Energy Congress taking place in April in Riyadh, Saudi Arabia will continue to promote the role of women in the energy sector, with a number of events focusing on the issue.
22 July 2025
Pedro Miras is the serving President of WPC Energy for the current cycle which will culminate with the 25th WPC Energy Congress in Riyadh, Saudi Arabia in April 2026. He has over 30 years of experience in the energy sector, including stints with Repsol and the IEA. Here he talks to Petroleum Economist about the challenges and opportunities the global energy sector currently faces.
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends