Iran exports first batch of petrochemical products to Egypt

Oil&Gas Materials 13 October 2010 14:00 (UTC +04:00)

Azerbaijan, Baku, Oct. 13 / Trend A. Yusifzade /

Iran exported the first batch of petrochemical products to Egypt within the agreement, Reza Hamza Lu, the head of the Iranian Commercial Petrochemical Company, was quoted by Mehr agency.

"Over 25,000 tons of polymer were exported to this country. Iran will increase export of petrochemical products to some countries of the Middle East soon," he said.

The negotiations with Egypt to export major petrochemical products, such as polypropylene, methanol, polymer are under completion.

The head of the company said that India and China are one of the largest markets now, where Iran sells its petrochemical production. The petrochemical products of Iran have been exported to the amount of $4,3 billion since early 2010 (Iranian year begins on March 21). Petrochemical products worth $1.8 billion was sold on the domestic market.

The export and domestic sales of petrochemical products of Iran has been increased by 56 percent since early 2010 compared to the same period of last year.

At present, Asian countries are major importers of Iranian petrochemical products. About 41.5 percent of Iran's petrochemical production is exported to the markets of the Far East, 23.9 percent - the Middle East, 10.7 percent - India, about nine percent - South and South-East Asia. The share of Africa's countries is less than one percent.

The negotiations to export the Iranian petrochemical products with some South American countries such as Venezuela, Ecuador, Bolivia and Brazil were also started.

The largest volume of export of Iranian petrochemical products over the last five years fell to 2008 when the goods worth $7.8 billion were sold. The smallest volume of exports fell to 2005. The production was sold to the amount of $2,3 billion.