Iran's urea and ammonia industry, which for years was known as one of the few stable channels for foreign exchange to enter the country, is today under triple pressure from questionable feed price policies, long-term gas outages, and a volatile global market.

The Deputy Minister of Petroleum for Engineering, Research and Technology announced the formation of a special working group with the aim of improving oil and gas production methods and tools and developing new technologies for increased recovery.

The CEO of Pars Oil and Gas Company announced the start of production of the ninth well of Phase 11 of South Pars and stated: "With the launch of this well, the gas production capacity from this border phase has increased to more than 22 million cubic meters per day."

Dr. Hamidreza Saghafi, CEO of Petropars Group, announced that the drilling operation of Well No. 9, Platform 11B in Phase 11 of the South Pars gas field was successfully completed, and about 100 million cubic feet of gas was added to the country's daily production.

The operations manager of Fajr Jam Gas Refining Company announced the start of the relocation of two 65-ton refrigeration exchangers; an operation aimed at restoring production capacity and increasing the sustainability of the gas sweetening process during the winter season.

The CEO of the National Petrochemical Industries Company announced the targeted development of the petrochemical industry in deprived provinces based on territorial planning and said: "Completing the value chain in the provinces in accordance with the climate, resources, and regional needs is on the agenda with the aim of balanced and sustainable development of the country."

The head of planning and coordination of port, marine and transportation operations at the Iranian Offshore Oil Company said: "By carrying out a 2-kilometer offshore cable laying operation between the Nowruz field and the wellhead platforms and providing the electricity needed by these platforms, the oil production of the Nowruz field increased by 1,500 barrels per day."

The Deputy Director of Planning and Economic Development of the Pars Special Zone Organization announced the issuance of 38 investment licenses in petrochemical plants with an annual capacity of 43 million tons in the Pars Special Zone, saying: "These projects will be put into operation in the next five years."

Iran stands at an important crossroads in the history of its gas industry; either it can transform gas into an engine of economic development through fundamental reforms in consumption and policymaking, or it will face a widespread crisis in energy supply by continuing the current pattern.

The CEO of the National Petrochemical Industries Company estimated the value of polymers produced in industrialized and developed countries at about $2,000 per ton and said: "Iran's petrochemical industry must move beyond the chemical sector and move towards creating more added value by producing polymer materials; the total capacity of polymers is currently only about 10 million tons."