Export of Persian Gulf holding not effected by sanctions

Oil&Gas Materials 6 May 2019 13:21 (UTC +04:00)

Tehran, Iran, May 6


The CEO of Persian Gulf Holding announced that the export volume of the holding in 2017 was about 5 million tons worth 4.5 billion euros.

The US sanctions did not affect the level of exports of the company,” CEO at Persian Gulf Petrochemical Industries Company Reza Ebadzadeh told reporters on the sidelines of the 24th Iran International Oil, Gas, Refining & petrochemical Exhibition, Trend reports. “At the oil exhibition, customers entered into negotiations with the Persian Gulf holding to sign new contracts.”

In his words, the export targets of the Persian Gulf Petrochemical Industries Company have not diminished due to the restrictions. Moreover, traditional traders in the Persian Gulf countries began to buy polymer products from Iran, he added.

Answering the question from Trend about whether the return of the foreign exchange earned by exporting petrochemical companies to the country could put them at risk, he said, “Given that all the currency from the export of petrochemical companies are returned to the NIMa system, the amount of export is quite clear, and its statistics can be viewed from the central bank.”

Ebadzadeh continued by saying, “The export volume of the Persian Gulf Company in 2017 was about 5 million tons worth 4.5 billion euros, and the export volume in 2018 was estimated as equal to that achieved in 2017.”

He also announced that the supply volume of Gulf Company in the stock exchange is doubled since last year. “The domestic statistics indicate that the supply of the Persian Gulf Petrochemical Company on commodity exchanges has increased in recent years."