Baku, Azerbaijan, Dec. 5
By Dalga Khatinoglu - Trend:
Although Iran boosted exporting its oil products, but a look at the country's oil production revenues during the last several months indicate a huge drop in prices.
Iran's most valuable exported oil products include propane, butane, tar, fuel oil as well as some petrochemical products.
Iran's heavy oil price has fallen from about $110 in mid-June to below $68 currently. The country exported about 1.2 to 1.25 million barrels of crude oil and condensate per day in average during ten months of 2014. This figure during 2011 and 2013 was about 2.5 million and 1.07 million barrels per day.
Iran's petroleum export revenues ($ billion) based on the Central Bank of Iran's statistics
Iran's Custom Administration's latest monthly report, released on Dec.5 indicates that the country's oil product exports have soared since March 21, when Iran's current fiscal year started, but their price has dropped significantly during the last several months as the global oil price declined by 40 percent since mid-June.
Iran has some petroleum production to export, like fuel oil which isn't included in custom reports, however, Hassan Khosrojerdi, the head of the Iranian Oil, Gas and Petrochemical Products Exporters Union told ISNA on Dec.5 that Iran's exported fuel oil prices have dropped from $600 to $465 per metric ton.
There have been no updated figures for Iran's fuel oil exports during the last eight months, but the managing director of the National Iranian Oil Products Distribution Company (NIOPDC) Mostafa Kashkouli told Shana in August that Iran exported 600 million liters of fuel oil during a 128-day period, which started on March 21.
Iran's monthly fuel oil exports was about 150 million liters - a significant value for Iran who suffers from tough western sanctions.
Below is a table, comparing Iran's oil products value, exported last month and seven months ago. The table is based on Iran Custom Administration's monthly reports:
|
Product |
Last month |
Per metric ton |
Two months ago |
Per metric ton |
Severn months ago |
Per metric ton |
|
Propane |
264,000 metric tons, $238 million |
$901 |
126,000 metric tons, $100 million |
$793 |
209,000 metric tons, $211 million |
$1009 |
|
Butane |
145,000 metric tons, $121 million |
$834 |
81,000 metric tons, $68 million |
$839 |
124,000 metric tons, $121 million |
$975 |
|
Tar |
204,000 metric tons, $104 million |
$495 |
182,000 metric tons, $92 million |
$505 |
178,000 metric tons, $88 million |
$494 |
|
Polyethylene |
49,000 metric tons, $75 million |
$1,530 |
87,000 metric tons, $139 million |
$1,597 |
45,000 tons, $79 million |
$1,755 |
|
Total petrochemical products |
1.646 million metric tons, $1.361 billion |
$826 |
1.462 million metric tons, $1.022 billion |
$700 |
1.011 million tons, $926 million |
$915 |
Dalga Khatinoglu is an expert on Iran's energy sector, head of Trend Agency's Iran news service. Follow him on @dalgakhatinoglu