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Iran’s condensate export triples

Business Materials 10 February 2014 19:23

Baku, Azerbaijan, Feb. 10

By Umid Niayesh - Trend:

Iran's condensate exports have increased by some 272.97 percent during the last three Iranian calendar months (October 23, 2013- January 20, 2014) compared to the previous months of the current year, which started on March 21, 2013.

Gas condensate is the best feedstock for producing some expensive petrochemical products including polymers, which shares some 25 percent of Iran's non-oil exports.

Iran's condensate exports stood at $ 8.520 billion for the first ten months of the current Iranian calendar year, which indicates an increase of 10 percent compared to the same period of the last Iranian calendar year according to the country's custom administration's latest report released on Feb. 10.

According to the custom administration report, Iran exported $3.926 billion worth of condensate during the first seven months of the current Iranian calendar year which indicates a fall by some 30 percent compared to the seven month period of the preceding year.

In other words, Iran's condensate exports during the last three months have increased continuously and not only covered the seven months` decrease, but surpassed the earlier years` export figure.

The average monthly value of country's condensate exports in the first seven months of the current Iranian calendar year stood at $560.86 million.

Iran has exported $4.594 billion worth of condensates in the last three Iranian calendar months with an average monthly value of $1.531 billion, which indicates an approximately three-fold increase compared to the earlier months.

Before Iran had sanctions imposed on it, the value of Iran's condensate exports during the Iranian year of 1390 (started on March 20, 2011) stood at about $10 billion which decreased by 12.5 percent in the last Iranian calendar year (ended on March 21, 2013) .

The custom administrations statistics shows that Iran's average monthly condensate export in the last three months is even more than in the pre-sanction period.

Iran's petrochemical exports surpassed $9.19 billion during the mentioned period.

The country's petrochemical export also has sharply increased in the last three months.

While the average monthly petrochemical exports stood at $800 million during the first seven months of the current Iranian calendar year, the figure reached $1.142 billion in the last three Iranian months.

The value of the country's overall non-oil exports during the ten-month period accounted for $33.788 billion, which indicates a decrease by 2.55 percent compared to the same period of the preceding year.

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