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    President Pezeshkian pushes for new era beyond crude oil in Iran’s economy

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    By Elnur Baghishov

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    President Pezeshkian pushes for new era beyond crude oil in Iran’s economy

    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,

    “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

    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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