President Pezeshkian Pushes For New Era Beyond Crude Oil In Iran's Economy

2025-09-11 05:13:52

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 11. Iran must significantly reduce its dependence on crude oil exports, the Iranian President, Masoud Pezeshkian, said at a meeting with investors and businesspeople in the northwestern Ardabil Province, Trend reports.

“Currently, there is concern in Iran about how to address problems if Iranian oil cannot be sold or sanctions are applied. The country must develop its economy without relying on oil exports,” Pezeshkian said.

He highlighted that Iran has opportunities across various sectors and a skilled workforce, which should be fully utilized.

The Iranian President added that there are countries in the world without oil or gas, even importing electricity and energy, yet they manage their economies very effectively. Iran can take steps in this direction as well.

According to official figures, Iran's total hydrocarbon reserves stand at 1.2 trillion barrels. With existing technology and equipment, the country can extract approximately 340 billion barrels, using around 30 percent, while 70 percent remains untapped underground.

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