Baku, Azerbaijan, Sept. 13
By Umid Niayesh - Trend:
Fall of Iran’s gas condensates’ export has continued last calendar month (ended August 22), according to the latest data released by Trade Promotion Organization of Iran (TPOI).
TPOI said that Iran exported 4.168 million tons of condensates in the first five months of the current fiscal year (March 20- August 22), 41.6 percent less year-on-year.
The country includes gas condensate or ultra light oil as well as some raw hydrocarbon products, like propane, butane, etc. in its non-oil export basket.
In terms of value, Iran’s ultra light oil export accounted to $2.17 million in the 5-month period, 22.5 percent less year-on-year.
Each ton of the condensate was sold at $521, 33 percent more compared to the price in the 5-month period of the preceding year.
Iran says has decreased condensate exports to meet its domestic demand, in particular the gas condensate feed stock for Persian Gulf Star Refinery in the southern province of Hormozgan. The gasoline production capacity of the refinery reached 26 million liters per day, after its second phase became operational in late June 2018.
The third and final phase of the project is expected to come on stream by the end of the current Iranian year (March 2019). Iran’s gas condensate export also is predicted to fall to 200,000 barrels per day after launching the third phase of the refinery.
TPOI report indicates that condensate was the top exported goods in the first five months of the current fiscal year in terms of value, followed by liquefied propane (worth $845 million, 66 percent more year-on-year), light oils excluding gasoline ($734 million, 5 percent growth), methanol ($560 million, 33 percent increase) and film grade polyethylene ($496 million, no change compared to the preceding year).
Liquefied butane ($431 million, 23 percent increase), ethylene glycol ($419 million, 58 percent increase) and urea ($401 million, 52 percent more).
In the 5-month period, Iran’s total non-oil exports, which include gas condensate as well, stood at $19.32 billion, which indicates a 14 percent rise.