Iran's gas condensate exports surpass pre-sanctions level

Iran's gas condensate exports surpass pre-sanctions level

By Dalga Khatinoglu, Trend:

The latest detailed monthly report of Iranian Customs Administration, published on Dec.1 says the country's gas condensate export reached 5,582 thousand tons during the eight months of Iranian calendar year, which began on March 20.

Based on the last month's report, Iran's total condensate export stood at 4,433 thousand tons (first seven months), or about 190,000 barrels per day.

Then, according the statistics of 7-month and 8-month periods, Iran exported about 1,149 thousand tons of condensates during the 8-th month (October 23 - November 22)- which equals to 345,000 barrels per day, and indicates approximately 48 percent increase compared to average condensate exports during first seven months of Iranian year.

Iran's total condensate export amount for last solar year was 9,630 thousand tons, which indicates 15.36 percent drop compared to the previous year.

Before Iran had sanctions imposed on it, the country's condensate export was about 280,000 to 300,000 barrels per day, or 13 percent less that Iran's 8-th month's figure the current year.

The gas condensate is the best feedstock for producing some expensive petrochemical products including polymers.

The U.S. hasn't imposed any concrete restrictive sanctions directly over Iran's condensate exports, but has the option to impose sanctions on customers only if there is sufficient alternative supply available.

Then international refineries has decreased condensate import from Iran, fearing for their reputation to be damaged, as well as worrying about sanctions-affected payment, insurance and banking problems.

Iran's condensate consumption is less than 40,000 barrels per day.

The EU imposed sanctions on the Central Bank of Iran (CBI), as well as banned insurance services for tankers which carry Iranian oil since mid-2012. The insurance restrictions affected about 95 percent of the global tanker fleet because the ships are covered under rules governed by the European law.

The U.S also included CBI in the black list, alongside giving six-month period wavers for Iranian oil customers versus making "significant decrease" the Iranian crude oil imports every 180 days.

Iran's crude oil export has dropped from 2.2 million barrels per day- equals to roughly 20 percent of GDP- to about one million barrels since 2011.
According to the customs Administration last month's report, the country's gas condensates exports in the first seven months and eight months of the current year stood at $3.926 billion and $4.944 billion.

So Iran averagely exported $560 million of gas condensates each month in the seven months period, while the figure reached to $1.018 billion in 8-th month, which is about 45 percent more than the average amount of the preceding months.

However, Iran's light oil exports for the first eight months decreased by 21.36 percent in value and 21.45 percent in volume compared to the same period the last solar year.

The condensate and petrochemical exports share 47.2 percent of the country's total exports in last eight months.

Petrochemicals export

Iranian Customs Administration's latest report has also shown that the country totally exported $6.405 billion worth of petrochemicals in the first eight months of the current year.

According to the last month's report, the country's petrochemical exports in the first seven months were around $5.592 billion, which makes a monthly average of $798 million, while the eight month's figure stood at $813 million.

Iran exported $15 billion worth of petrochemicals in the calendar year of 1390 (Ended on March 20, 2012), but the figure dropped by 33 percent in the next year reaching only $10 billion.

Iran exported 56.844 million tons of non-oil goods worth $24.605 billion in the first eight months of the current Iranian calendar year, which is 12.7 percent less than the same period last year, Iran's Customs Administration reported.

Iran also imported 18.925 million tons of non-oil goods worth $28.247 billion in the mentioned period. The figure shows 22.7 percent decrease compared to the same period last year.

China with $4.252 billion, Iraq with $3.87 billion, the United Arab Emirates with $2.318 billion, India with $1.659 billion, and Afghanistan with $1.639 billion were the main destinations for Iran's non-oil goods in the mentioned period.

Iron ore, methanol, and tar were the main exported items.
The United Arab Emirates with $5.854 billion, China with $5.539 billion, India with $2.607 billion, South Korea with $2.389 billion, and Turkey with $2.307 billion were also the main exporters of non-oil goods to Iran in the mentioned period.

Rice ($1.61 billion), press cake ($1.057 billion), wheat ($751 million), corn ($745 million), and motor vehicles with internal combustion engine ($634 million) were the main imported items.

Dalga Khatinoglu is head of Iran News Service of Trend Agency

Revenues of Georgian Silknet mobile operator down
Revenues of Georgian Silknet mobile operator down
Georgia reports 1,030 coronavirus cases for April 15
Georgia reports 1,030 coronavirus cases for April 15
Georgia to spend significant funds on tourism infrastructure in Akhaltsikhe
Georgia to spend significant funds on tourism infrastructure in Akhaltsikhe
Loading Bars
Kazakhstan set up task force to develop local investment management system
Production of catalysts for Iran’s petrochemical sector launched
Data on cotton yarn sales on Turkmen exchange in March 2021 revealed
Bank of America profit more than doubles on reserve release boost
Group of journalists visit Azerbaijan’s Aghdam district (PHOTO)
Russian company to supply big batch of agricultural machinery to Azerbaijan
Shell targets 2-3% reduction in carbon intensity this year
Iran’s PMO unveils volume of cargo loaded, unloaded in Fereidoonkenar port
2M2021 volume of stone coal shipment via Turkish ports disclosed
Data on shipment of goods across Turkish Antalya port from January through February 2021 disclosed
Graduate of Baku Higher Oil School marries Pakistani student from same university (PHOTO)
Data on cargo movement through Turkey's Gemlik port revealed
Turkey's steel exports to China surge
Turkey’s activity on Turkmen commodity and raw materials exchange in March 2021
Iran reveals COVID-19 data for April 15
Azerbaijan announces commissioning date for 'Victory Road' to liberated Shusha (PHOTO)
Revenues of Georgian Silknet mobile operator down
Iran’s Bahar Azadi gold coin price falling
Value of Iran's import of Turkish chemicals notably up
Azerbaijan improving access of entrepreneurs to insurance services
Turkey talks number of ships received at Aliaga port from Jan. through Feb. 2021
Kazakhstan boosts import of electrical goods from Turkey
Russia discloses amount of grains and legumes imported from Turkey
Central Bank of Azerbaijan holds foreign exchange auction
Iran to create major turning point on production of petrochemicals
Turkmenistan, French Public Investment Bank may sign MoU
Russian, Belarus presidents discuss situation in Karabakh via phone
Date of next interest payment on SOCAR bonds announced
Iran's Ilam Gas Refining Company discloses its production data
Microsoft implementing projects with Azerbaijan's educational institutions
Everything we agreed on will be implemented - President Lukashenko
Turkey hopes US won't recognize so-called "Armenian genocide" - Turkish FM
Azerbaijani PASHA Bank's Q12021 total assets grow
We are ready to share vaccine with Azerbaijan - President of Belarus
We reaffirmed strategic nature of relations between Belarus and Azerbaijan - President Lukashenko
President Ilham Aliyev is the best educated, civilized person of all presidents of post-Soviet space - President of Belarus
Nagorno-Karabakh conflict has now been resolved - President Aliyev
Culprit of what happened to Armenia is precisely Armenian leadership - Azerbaijani president
What Minsk Group will be doing is still unknown to us - President Aliyev
Iran's trade turnover with Turkmenistan down
We clearly defined our goals - Azerbaijani president
Companies from three friendly countries already working on reconstruction projects in Karabakh - President Aliyev
Turkish Energy Ministry prolongs Acacia Mining Operations license for oil, gas exploration
Belarus is our friend, trusted partner - Azerbaijani president
Turkish Airlines suspends flights to Russia
Russia reports over 8,900 daily COVID-19 cases
Kazakhstan resumes supplies of scrap metal to Russia
Russia's 2020 exports of chemicals to Azerbaijan disclosed
Кazakh Electricity Grid Operating Company to buy hydraulic press via tenders
Azerbaijan's AzerGold names winner of tender for purchasing ingot purity machine
Cargo movements in Iran's Genaveh port decline
Georgia reports 1,030 coronavirus cases for April 15
Kazakhstan’s KazMunayGas pays out coupon on its international bonds
Iran declares production data for sugar beet
Share of exports of Russian machinery, equipment, vehicles to Azerbaijan unveiled
Oil market may need extra supply in 2H 2021
War Trophy Park in Baku symbolizes heroic Azerbaijani people's triumphant victory - MP
Facebook signs first deal to buy renewable energy in India
Georgia to spend significant funds on tourism infrastructure in Akhaltsikhe
Top German health official says need to break third COVID-19 wave now
Iran's bitumen exports decrease
Azerbaijan sees increase in prices for silver, platinum, palladium
Turkmenistan should closely monitor bank balance sheets for asset quality risks - IMF
Minsk IT holding voices interest in Azerbaijani-Belarusian smart projects
European oil demand sees largest fall since April 2020
Cargo transportation volumes down in Kazakhstan
Moscow ahead of regional partners in terms of exports to Azerbaijan
Azerbaijan boosts exports to Iran
Azerbaijan expanding co-op with Turkey on mail, money transfers
Kazakhstan’s Tengizchevroil to possibly face criminal case
Former heads of state, gov't call on President Biden to waive intellectual property rules for COVID-vaccines
CPI up 0.6% in March, housing prices still rising
Uzbekistan looks to build first pumped storage power plant
IMF continues to promote Turkmenistan's structural reforms aimed at economic diversification
Process begins for inviting financial bids for AI, deal to conclude by Sep
India, France discuss boosting cooperation, greater collaboration in diverse sectors
German COVID-19 cases jump by most since early January
U.S. vows to help bring investment to assist India’s mitigation efforts
Azerbaijani oil prices continue to rise
Wizz Air forecasts gradual flying recovery into late summer
PM: Despite local constraints, India sent doses to 80 countries
Oil steady near one-month highs as IEA, OPEC raise forecasts
Footage from Azerbaijani Zangilan's Agh Oyuq village (VIDEO)
Kazakhstan’s oil-producing company opens tender to buy pumps
Russia to finance modernization of 14 oil refineries
Azerbaijani currency rates for Apr.15
France's 1Q2021 chemical imports from Turkey rise in value
Iranian currency rates for April 15
Azerbaijan sees growth in securities market
Minsk Group worked ineffectively for 30 years on Karabakh - MP
SOCAR, Belneftekhim to expand opportunities in oil products’ output, sale
Azerbaijan continues to compensate workers employed in COVID-hit areas
Thailand reports record daily rise with 1,543 new coronavirus cases
Geely's EV unit Polestar raises $550 million
Iran resumes flights to UK
Uzbekistan talks projects implemented on improving country's energy sector
Central Bank of Iran continues its foreign currency policies
US IDC eyes organizing int'l forum on applying best 'smart' practices in Azerbaijan
Yemen's Houthis say they attacked Aramco, Patriot targets in Jazan
Iran stresses achieving $20-billion trade with Iraq
All news