A few days ago, the Minister of Oil announced that two new layers of oil and gas were discovered during the drilling of the second well of the Pazan field, located on the border of the three provinces of Bushehr, Fars, and Kohgiluyeh-Bovir Ahmad. This news contains 5 basic points.

Iran exports millions of tons of methanol to China annually at a meager profit, while the country has created hundreds of times more value added by converting the same methanol into propylene, the “petrochemical caviar,” and has achieved 96 percent self-sufficiency in propylene production. An opportunity that Iran could have used to complete its petrochemical value chain by investing in domestic MTP units and move from selling crude to creating sustainable wealth.

A member of the Majlis National Security Commission still threatened to close the Strait of Hormuz, while such a speech may seem attractive to the general audience, in fact deepest disregard for Iran's economic and geopolitical realities. The key question is if the Strait of Hormuz really closes, who is most damaged? The answer is clear, Iran itself. Even if the country's oil exports reach 6,000 barrels a day, there is still no other way than to cross the same strait.