Baku, Azerbaijan, April 7
By Dalga Khatinoglu - Trend:
Iran could resume gas condensate and petrochemical exports to above the pre-sanctions level during last fiscal year (March 21, 2014 - March 21, 2015).
The country exported over $14 billion worth of gas condensate, as well as $14.241 billion worth of petrochemical products during the last fiscal year, according to the Customs Administration's latest monthly report.
The report said Iran exported 19.124 million metric tons of natural gas condensate during last year, or averagely, 440,113 barrels per day, which indicates a 44.64 percent increase year-on-year.
During the last month of Iran's fiscal year, February-March, Iran exported 271,000 barrels per day of gas condensate.
However, the figure doesn't indicate the exact amount of gas condensate sold by Iran, while just indicating the uploaded volume and the volumes shipped to global markets. For instance, Iran reportedly stores a part of its condensate in China.
In mid-2012, the US and European Union imposed tight sanctions to force Iran to curb its sensitive nuclear activities, which has led to declining of the country's condensate export from 270,000 barrels per day in 2011 to below 160,000 barrels in mid-2013, but after easing the sanctions due to interim nuclear deal achieved in November 2013, Iran's gas condensate export soared rapidly.
The following figures* have been extracted from Iranian Custom Administration's monthly report:
|
Condensate export |
Volume Kilo metric tons |
Value |
Thousand barrels per day |
|
Oct 23 to Nov 22 |
1,149 |
$1.018B |
311.34 |
|
Nov 23 to Dec 22 |
1,690 |
$1.419B |
457.94 |
|
Dec 23 to Jan 21 |
3,599 |
$2.157B |
975.21 |
|
Jan 22 to Feb 20 |
1,095 |
$959M |
296.71 |
|
Feb 21 to Mar 20 |
897 |
$816M |
243.06 |
|
Mar 21 to Apr 20 |
846 |
$779M |
229.24 |
|
Apr 21 to May21 |
4,095 |
$2.251B |
1109.61 |
|
May 22 to June 21 |
807 |
$761M |
218.67 |
|
June 22 to July 22 |
1,965 |
$1.388B |
532.45 |
|
July 23 to Aug 22 |
759 |
$678M |
205.66 |
|
Aug 23 to Sep 22 |
726 |
$657M |
196.72 |
|
Sep 23 to Oct 23 |
1,616 |
$1.027B |
452.48 |
|
Oct.23 to Nov.22 |
1,639 |
$1.188B |
458.92 |
|
Nov.23 to Dec.22 |
936 |
$847 M |
262.08 |
|
Dec.23 to Jan.21 |
3,078 |
$2.512 B |
861.84 |
|
Jan 22 to Feb.21 |
1,719 |
$1.580B |
481.32 |
|
Feb 22 to Mar 20 |
938 |
$ 332 M |
271.1 |
Petrochemical exports
The value of Iran's petrochemical product exports before the West-imposed sanctions was at $1.25 billion per month on average, but decreased significantly afterwards.
However, the customs' new report says Iran exported $14.241 billion worth of petrochemical products during last year, or $1.18 billion per month in average.
Iran's petrochemical product exports have increased by 28.35 percent and 31.79 percent, in volume and value respectively.
Iran also exported $2.279 billion worth of propane (83.74 percent increase) and $1.468 billion worth of butane (43.17 percent increase) during the last fiscal year. The country's total non-oil exports (including gas condensate) were $49.744 billion, while imports reached $52.477 billion in the mentioned period.
Iran's non-oil exports increased by 18.87 percent and its imports experienced a 5.57-percent growth during the mentioned period.
Dalga Khatinoglu is an expert on Iran's energy sector, head of Trend Agency's Iran news service.
Follow him on @dalgakhatinoglu