Exports of Iran's condensate, petchem affected as much as crude oil's

Exports of Iran's condensate, petchem affected as much as crude oil's

Dalga Khatinoglu, head of Trend Persian Service/

Iran's crude oil exports have halved since early 2012, falling from 2.2 million barrels per day (bpd) to around one million bpd, but Iran had about 0.3 mbpd of condensate exports which dropped to below 0.1 mbpd last month.

An Iranian Customs Administration report published on October 2, says Iran exported only $280 million worth of condensate in the last month of the Iranian calendar (August 20-September 20).

This figure indicates a 55 per cent fall compared to Iran's average condensate export revenue during the current year.

Iran exported $3.105 billion worth of condensate during the first five months of the current solar year which started on March 20. However this figure for the first six months increased just to $3.385 billion.

In other words, Iran's monthly condensate export in the first five months was averaging around $620 million, while this figure for the last month was about $280 million which indicates a 55 per cent decrease.

Iran's condensate export has been affected since mid-2012 beside the country's oil export.

Iran exported above $10 billion worth of condensate during the Iranian 1390 calendar year (March 2011-March 2012) while this figure decreased by 12.5 per cent to $8.881 billion in the last solar year.

Iran's condensate exports in the first half of current solar year indicates a 37 per cent decrease compared to the first half of last solar year.

Iran exported $4.585 billion worth of condensate in 1H of the last solar year.

Alongside a significant drop in Iran's condensate export, the country's petrochemical products export has dropped from $15 billion in Iranian 1390 calendar year to $10 billion in last solar year, indicates a 33 per cent decrease.

According to the Customs Administration report, Iran exported $4.841 billion worth of petrochemical products during the first six months of the current solar year, while this figure was $5.753 billion in same period of the last solar year.

The Customs statistics indicate that Iran exported $17.972 billion worth of non-oil exports including condensates, in the first half of the current solar year which indicates a 13.59 per cent decrease compared to the same period of the last solar year.

Iran also had $19.935 billion worth of imports during first half of the solar year, which indicates a 25.4 per cent decrease compared to the same period last year.

The country's most exported cargoes were respectively iron ore ($652 million), carbamide ($609 million) and methanol ($559 million) in the last six months.

Iran in total exported $4.841 billion worth of petrochemical products during this period.

Iran's major imports were rice ($1.289), meal ($755 million), maize ($505 million) and wheat ($447 million) during the mentioned period.

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