BAKU, Azerbaijan, December 11. Iran’s export of bitumen, petroleum oils and paraffin dropped by 15.5 percent in value and 8.87 percent in volume in the first 7 months of the current Iranian year (March 21 through October 22, 2023), compared to the same period last year, head of Iranian Oil, Gas and Petrochemical Products Exporters' Union Hamid Hosseini said, Trend reports.
Hosseini stated that Iran exported 5.65 million tons of bitumen, petroleum oils and paraffin worth about $2.5 billion in this period. This was lower than the 6.2 million tons worth $2.96 billion exported in the same period last year.
He also said that Iran’s bitumen export increased by 26.6 percent in value and 30.8 percent in volume in 7 months, reaching 3.34 million tons worth $1.28 billion. In contrast, Iran exported 2.55 million tons of bitumen worth $1.01 billion in the same period last year.
The official added that Iran exported 2.16 million tons of petroleum oils worth about $1.09 billion in 7 months. This was a 39.6 percent decrease in value and a 38.9 percent decrease in volume compared to the same period last year, when Iran exported 3.53 million tons of petroleum oils worth $1.8 billion.
According to Hosseini, Iran exported 160,000 tons of paraffin worth $122 million in 7 months. This was a 15.8 percent decrease in value and a 14.3 percent increase in volume compared to the same period last year.
As reported, Iran prioritized the export of petroleum products due to the sanctions on its crude oil export. This allowed Iran to classify its products and sell them at a higher price.
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