Three major petrochemical projects worth $1.6 billion were inaugurated on Thursday as part of efforts by the Iran government to boost non-oil revenue at a time when oil exports have plummeted. Chinaand Iran have always followed the principles of equal, fair and win-win collaboration and work within the international legal framework, China's Ministry of Foreign Affairs said in a statement to Reuters. In 2005 Iran exported US$1.8 billion of petrochemical products (about one-third of total nonoil exports in that year). GAIL to build India's largest green hydrogen plant, Multibagger Alert: This solar play has soared over 1,200% in 18 months, India to step up oil exploration, production in very big way: Hardeep Puri, Oil minister Hardeep Puri returns fire, calls Rahul Gandhi 'jeb katra', ONGC's KG oil, gas project delayed; nation bleeds precious forex, Fossil fuels will continue to play dominant role for decades: ONGC Chairman, GIS-based Geospatial Energy Map of India launched, India's top refiner plans thousands of electric car charging stations, Dubai clean energy strategy: An initiative to manage the growing energy requirements, Power from humidity? LONDON/SINGAPORE, Sept 17 (Reuters) - Iranian fuel and petrochemical exports have boomed in recent years despite stringent U.S. sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said. Previous FDD analysis showed that in its first four months under sanctions, Tehran's average monthly export of petrochemicals dropped by 18 percent in comparison to its level during the seven months . Saturday, 18 Sep 2021 17:53. The government said in April they were its main source of revenues. This has helped Iran improve its status in international petrochemical markets, raise its exports of raw materials and boost production of downstream products, according […] TEHRAN ( Iran News ) - Iran's petrochemical exports have increased 1.5 times over the past six years in view of the completion of a number of projects within the same . We have updated our terms and conditions and privacy policy It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange.The stock exchange has been one of the best performing exchanges in the world over the . PM Modi to launch 600 Mw Ultra Mega Solar Power Park in Jhansi1 hr ago, Vedanta looks to rejig group, list businesses separately1 hr ago, An initiative of The Economic Times & SABIC, Towards Digitalisation of Modern Energy Assets, The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran over its nuclear work, 100000+ Industry Leaders read it everyday. Iran's major petrochemical products exports figures (Report) 10 November, 2021 Source: Iranoilgas.com In the first six months of current Iranian year (20th March-20th September 2021), Iran exported over 10,711 Mln tons. The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off […] Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. It is the world's 23rd largest by purchasing power parity (PPP). Iran Petrochemical Commercial Company wins $350m dispute. The government of Iraq, which has for years imported gas and electricity from its neighbour under U.S. waivers, did not respond to requests for comment about the gasoline trade. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. "If the international sanctions were completely dropped, Iran would go back to exporting methanol to its traditional locations instead of the vast majority going into China," said Geoff Mullett, a methanol specialist at IHS Markit, referring to other markets such as Taiwan, Japan and South Korea and Europe. Six former officials of Iran's Petrochemical Commercial Company have been sentenced to 20 years in prison for involvement in a . Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. ClipperData, LLC. In 2005 Iran exported US$1.8 billion of petrochemical products (about one-third of total nonoil exports in that year). . The Pakistani adviser also noted that his country can export quinoa, mango and citrus fruits to Iran. The government said in April they were its main source of revenues. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 2, Arafati Alley, Bagh Sardar St., India, China and South Korea have emerged as key petrochemical exports markets for Iran with the country also gaining ground in Africa and European markets. Iranian fuel and petrochemical . Exports up to Oct. 13 were around 220,000 mt, the sources added. Chinese firms remain the main buyer of Iranian liquefied petroleum gas (LPG), methanol, and many other products, trading sources said. Those extras had raised the cost of Iranian products by about 25%, trading sources said. The government said in April they were its main source of revenues. TEHRAN - Iranian exports of petrochemical products increased by 13 percent in the previous Iranian calendar year (ended on March 20) compared to the preceding year, general secretary of Iran's Association of Petrochemical Industry Corporation (APIC) said. Iran earns $9bn from petrochemicals exports in one year. The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran over its nuclear work. Even countries that seek to implement U.S. sanctions have sometimes struggled to halt all business with Iran. Hossein Sohani St., Sohanak, Iranian fuel and petrochemical exports have boomed in recent years despite stringent U.S. sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said. If you are intrested in using IranOilGas Network's information, register now. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Tehran October 18 2021: Iran's LPG shipments are set to reach around 440,000-450,000 mt in October compared with 556,000 mt exported in September, largely to Asia, and are expected to rebound in November, trade sources said. It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange.The stock exchange has been one of the best performing exchanges in the world over the . The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran . According to the Daily Star reports, Iran's exports of fuel and petrochemical exports increased in recent years as the re-imposition of the US sancti. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports. Petrochemical exports already constitute nearly 33 percent of the country's non-oil exports. The Sunni Muslim group seized power in Afghanistan last week as the United States and its allies withdrew troops after a 20-year war. Press TV - Iran has acknowledged that its exports of petrochemicals to China have hit a snag since May over banking problems with a top official in Tehran saying the top-level intervention by the governments of the two countries is needed to restart the exports. A senior official at Iran's National Petrochemical Company (NPC) says exports of petrochemicals were responsible for a fourth of all non-crude shipments exported from the country in the year to late March. Iran planning to raise annual petrochemical products to 176m tons. Iran reveals steel export statistics for March-October 2021 Business 09:22. REUTERS/Raheb Homavandi/File Photo. The steps crippled crude exports but not sales of fuel and petrochemicals, which are more difficult to trace. While most of the world slashed refinery throughput during the COVID-19 pandemic, Iranian gasoline exports rose 600% year on year in 2020 to 8 million tonnes, or 180,000 barrels per day (bpd), the customs administration said. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Please review and accept these changes below to continue using the website.You can see our privacy policy & our cookie policy. . Crude can be identified as Iranian by its grade and other features, while big oil tankers are more easily tracked via satellite. Iran says petchem exports to China halted. Get ETEnergyworld's top stories every morning in your email inbox. Marzieh Sahdaei, the managing director . There are also many more buyers of refined products than importers with refineries configured to process Iranian crude. Iran exported petrochemicals and petroleum products worth almost $20-billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Gasoline was delivered by truck to Afghanistan and Pakistan and shipped to the United Arab Emirates (UAE) across the Gulf, a source close to Iran's Oil Ministry said, declining to be named. From March 2018 through March 2019 (Persian year 1397), Tehran exported $14.1 billion of petrochemical products, despite Washington's reinstatement of sanctions on the petrochemical sector in November. Iran's economy, traditionally dependent on oil exports, has withered in recent years with the US government reinstating crippling economic sanctions. A senior official at Iran's National Petrochemical Company (NPC) says exports of petrochemicals were responsible for a fourth of all non-crude shipments exported from the country in the year to . Iran discloses details of petrochemical exports Oil&Gas 15:53 Weekly review of key events in Azerbaijan's ICT sector ICT 15:52 Kazakhstan notes zero growth in prices for socially significant food . The government said in April . Continue September 5, 2015. School teachers across Iran held protests on Saturday demanding an improvement in their work conditions, as workers in natural gas and petrochemical sectors protested for their wages in southern Iran. Tehran has been in talks since April to revive its nuclear pact with six world powers, after the United States under President Donald Trump withdrew from the deal in 2018 and ratcheted up sanctions. "The world is vast and the ways of evading sanctions are endless," Hamid Hosseini, board member of Iran's Oil . Kazakhstan notes zero growth in prices for socially significant . Source: Iranoilgas.com. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. The United States imposed sanctions on Iran 's oil and gas industry in 2018 to choke off the Islamic Republic's . Petrochemical products are among Iran's top non-oil exports even though the industry has labored under sectoral sanctions since November 2018. The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran over its nuclear work. PGPIC and its group of subsidiary petrochemical companies hold 40 percent of Iran's total petrochemical production capacity and are responsible for 50 percent of Iran's total petrochemical exports. India's Fertilizer Ministry, which drafts tenders for imports, did not respond to requests for comment. LONDON (Reuters) -Iran resumed fuel exports to Afghanistan a few days ago following a request from the new Afghan government, which feels empowered by the U.S. withdrawal to buy the sanctioned nation's oil more openly, an Iranian official told Reuters. In addition to PGPIC, OFAC is designating PGPIC's vast network of 39 subsidiary petrochemical companies and foreign-based sales agents. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Tehran, Sept 5, IRNA - Iran has exported two million and 263 thousand tons of petrochemical products in the period between March…. The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran . The industry leader for online information for tax, accounting and finance professionals. Petrochemicals represent 32 percent by value of Iran's non-oil exports. Iran earned $9bn from petrochemicals exports in year to March: NPC. Tehran Exports Its Petrochemical Products Despite Sanctions. Tehran October 18 2021: Iran's LPG shipments are set to reach around 440,000-450,000 mt in October compared with 556,000 mt exported in September, largely to Asia, and are expected to rebound in November, trade sources said. According to a Reuters report, Iranian fuel and petrochemical exports continued to boom in recent years despite ongoing severe sanctions by the U.S. government. Receiving 30 percent of Iran's petrochemical exports between them, China and India were the major trading partners in this industry. sales of petrochemical products in the international markets as well as supplying Iran's petrochemical downstream industries. Teachers held rallies in Esfahan, Fars, Alborz, Ilam, Khuzestan and several other provinces, chanting slogans about . Iran exports $ 1.494 b of petrochemicals in 5 months. Deep Dive: What are green hydrogen electrolysers? Iran is an energy superpower and the Petroleum industry in Iran plays an important part in it. Head Office Address: Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Three major petrochemical projects worth $1.6 billion were inaugurated on Thursday as part of efforts by the Iran government to boost non-oil revenue at a time when oil exports have plummeted. 17 September 2021. Hassan Abbaszadeh, who leads planning and development operations at the NPC, said on Thursday that the share of petrochemicals from Iran's non-oil exports had risen slightly to reach 25.2% over the last Iranian year, Press TV reported. Iran's oil sector, the lifeblood of its economy, has been devastated by the impact of American sanctions over Tehran's nuclear program. Tehran, Iran Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. The government said in April they were its main source of revenues. In addition, Iran exports some fuel by trucks to its neighbours, which involve small transactions that are tough for the U.S. Treasury to detect. We have various options to advertise with us including Events, Advertorials, Banners, Mailers, Webinars etc. Iran's petrochemical exports in the first half of the current fiscal year (March 21-Sept. 22) increased by 94%, the National Petrochemical Company's director for planning and development said. The economy of Iran is a mixed economy with a large state-owned sector. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Established by highly experienced oil & gas professionals in 2000. Competitive prices and Iran's location, close to major shipping lanes, made its products attractive, he said. "The world is vast and the ways of evading sanctions are endless," Hamid Hosseini, board member of Iran's Oil . September 17, 2021 Iranian fuel and petrochemical exports have boomed in recent years despite stringent U.S. sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said. Until sanctions were imposed, crude exports were Iran's main revenue source, typically exceeding 2 million bpd and reaching 2.8 million bpd in 2018. The full version of this content is available only to IranOilGas Network members. Petrochemical exports rose to 25 million tonnes in 2020 from about 20 million tonnes in 2019, an Iranian oil ministry bulletin said, while Iranian petrochemical capacity rose to 90 million tonnes a year in 2020 from 77 million tonnes in 2019. The government said in April . Receiving 30 percent of Iran's petrochemical exports between them, China and India were the major trading partners in this industry. Iran exported petrochemicals and petroleum products worth almost $20bn in 2020, twice the value of its crude exports, oil ministry and central bank figures show. The Sunni Muslim group seized power in Afghanistan last week as the United States and its allies withdrew troops after a 20-year war. Increased economic activity after the second wave of the coronavirus has resulted in a shortage in coal supply and driven up electricity demand, proving a boon for New Delhi-based IEX which controls 95% of the power exchange market. Click "Continue" to accept and continue with ET EnergyWorld. The UAE's Ministry of Foreign Affairs and International Cooperation did not comment. As recently as 2018, Iran had been importing gasoline. Iran's petrochemical, fuel sales boom as sanctions hit crude exports. Some 60% of Iran's economy is centrally planned. LONDON/SINGAPORE - Iranian fuel and petrochemical exports have boomed in recent years despite stringent US sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington . The petrochemical industry plays a crucial role in Iran's non-oil economy, as the petrochemical export is the second-largest source of revenue for the country after crude oil. In the past 11 months, Iran has exported $3.53 billion in petrochemicals, mainly liquid gas, the country's FARS News Agency (FNA) reports. At 2006 levels of production, oil proceeds represented about 18.7 percent . Sep 17, 2021 06:14 UTC. Meanwhile, Iran has positioned itself well to respond if the measures are eased. The initial verdict of the dispute between PCC and . Iran discloses details of petrochemical exports Oil&Gas 15:53. All rights reserved. Reuters; September 17, 2021, 14:47 IST Tehran Exports Its Petrochemical Products Despite Sanctions. Hassan Abbaszadeh, who leads planning and . ClipperData, LLC. View on Map. Copyright © IranOilGas Network 2000 - 2021. The country has witnessed 9 per cent year-on-year growth in petrochemical production with the total output from Iranian petrochemical complexes amounting 31 million tons. Iran exported petrochemicals and petroleum products worth almost $20bn in 2020, twice the value of its crude exports, oil ministry and central bank figures show. Iran's exports to . Dear user, ET EnergyWorld privacy and cookie policy has been updated to align with the new data regulations in European Union. Tehran, IRNA - Iran Petrochemical Commercial Company (PCC) has said it has won a long dispute at the Federal Supreme Court of the United Arab Emirates. All quotes delayed a minimum of 15 minutes. It is set to exceed 100 million tonnes in 2021. It said China is opposed to unilateral sanctions and urged the United States to remove what it deemed the "long-arm jurisdiction" of such sanctions. Officials in UAE and Iraq also did not immediately respond. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran over its nuclear work. Adani Green Energy Ltd (AGEL), the world's largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest USD 20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23. Iran's exports began to rise in November 2020 and reached an average of nearly 0.7 million b/d in the last two months of the year as Iran sent more crude oil to China.6 Estimates based on ClipperData show that Iran's oil exports averaged more than 0.5 million b/d in the first few months of 2021. The government said in April . Follow @ETEnergyworld for the latest news, insider access to events and more. He said Pakistan is ready to barter its rice for Iran's oil and petrochemical products. The petrochemicals push comes as Iran's oil exports fell to around 400,000 barrels per day (bpd) in May, less than half of April's level and down from at least 2.5 million bpd in April last . Iran resumed fuel exports to Afghanistan in August at the request of the Taliban, a Sunni Muslim group that seized power when U.S. and other Western forces withdrew and with which Shi'ite Iran had tense relations in the past. In 2011-12, PCC accounted for almost 90% of Iran's total petrochemical production of 46-47 million tons and almost the same share of Iran's petrochemical exports of 18-19 million tons. The government said in April . Three major petrochemical projects worth $1.6 billion were inaugurated on Thursday as part of efforts by the Iran government to boost non-oil revenue at a time when oil exports have plummeted. Some 60% of Iran's economy is centrally planned. To encourage buyers, trading sources said Iran often offered prices that would cover shipping and insurance costs, alongside the extra fees for banking transactions. Iran's domestic resource base gives it a unique comparative advantage in producing . "The world is vast and the ways of evading sanctions are endless," Hamid Hosseini, board member of Iran . The full version of this content is available only to IranOilGas Network members. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. The government said in April . No. As a viable alternative to oil exports, the government sees potential in the production and sale of petrochemicals. Iran LPG exports to Decline in October. The steps crippled crude exports but not sales of fuel and petrochemicals, which are more difficult to trace. Economy. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. LONDON/SINGAPORE, Sept 17 (Reuters)- Iranian fuel and petrochemical exports have boomed in recent years despite stringent U.S. sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said. "The Taliban sent messages to Iran saying 'you can continue the exports of petroleum products'," Hamid Hosseini, board member and spokesperson of Iran's Oil, Gas and Petrochemical Products . Iran's major petrochemical products exports figures (Report) 10 November, 2021 Source: Iranoilgas.com In the first six months of current Iranian year (20th March-20th September 2021), Iran exported over 10,711 Mln tons. Exports up to Oct. 13 were around 220,000 mt, the sources added. A senior analyst at IHS, April Tan, said Iranian exports were expected to rise if sanctions dropped, in particular fuel oil and liquefied petroleum gas (LPG) exports to Asia. It said that victory in the dispute revived some $350 million for the company. Three years ago, then-President Donald Trump pulled America from Tehran's landmark 2015 atomic accord with world powers and returned sanctions on Iran that have slashed its petrochemical exports and . Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface. If you are a member, please login to view this page completely. Crude can be identified as Iranian by its grade and other features, while big oil tankers are more easily tracked via satellite. Abbaszadeh said petrochemicals shipments had generated over $9 billion in revenues for Iran over the period . Iranian oil production is now about 2 million to 2.5 million bpd, with around 2 million bpd allocated to domestic refineries and roughly 500,000 bpd to exports, a source close to the oil ministry said, adding that Iran could boost crude output by 2 million bpd in two to three months if sanctions were lifted. The United States imposed sanctions on Iran's oil and gas industry in 2018 to choke off the Islamic Republic's main source of revenues in a dispute with Tehran . A security person stands in front of the Mahshahr petrochemical plant in Khuzestan province,1032 km (641 miles) southwest of Tehran, September 28, 2011. Copyright © 2021 ETEnergyworld.com. 2019-05-11 23:03 Iran offers petrochemicals, naphtha at IRENEX The government said in April they were its main source of revenues. Scientists say they have achieved it, How household cooking oil is set to transform India’s energy landscape, Embed ETEnergyworld.com Widgets on your Website. The export volume is fluctuating between 450,000 mt/month and 530,000 mt/month," a trade source told S&P Global Platts. Amir Kabir Petrochemical Plant in Mahshahr, Khuzestan Province, has increased its output and exports in the first five months of the current Iranian year (March 21-Aug. 22) compared with the same. Friday 17/09/2021. Iran's has managed in recent years to increase its revenue from exporting petrochemicals and fuel, although its crude oil industry is still heavily affected by U.S. sanctions. "The world is vast and the ways of evading sanctions are endless," Hamid Hosseini, board member of Iran . The government said in April . See here for a complete list of exchanges and delays. Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Iran's Oil, Gas & Petrochemical Current News. Our Standards: The Thomson Reuters Trust Principles. Iran's revenues from gasoline exports were an estimated $3 billion in 2020, Hosseini said. China faces biggest Delta outbreak as infections grow in northeastern city Other News 08:53. Iran LPG exports to Decline in October. TEHRAN - The managing director of Iran's Persian Gulf Petrochemical Industries Trade Company (PGPIC) said the U.S. sanction haven't had any effect on the petrochemical exports by this company. Iran says it will only restrict its nuclear work under the pact if U.S. sanctions are scrapped. Petrochemical exports already constitute nearly 33 percent of the country's non-oil exports. The government said in April they . Reporting by Bozorgmehr Sharafedin in London and Florence Tan in Singapore, additional reporting by Nidhi Verma in New Delhi, Ahmed Rasheed in Baghdad, Aziz El Yaakoubi in Dubai, Beijing newsroom; editing by Edmund Blair and Jason Neely, See here for a complete list of exchanges and delays, U.S. imposed sanctions after quitting nuclear pact in 2018, Sanctions hit crude sales, but not petrochemicals and fuel, Iran now earns more from oil products than crude exports, Fuel exports, often by truck, are tough to track. "The world is vast and the ways of evading sanctions are endless," Hamid Hosseini, board member of Iran's Oil, Gas and Petrochemical Products Exporters' Union in Tehran, told Reuters. Weekly review of key events in Azerbaijan's ICT sector ICT 15:52. read more. Traders said Iraq and some African countries also bought Iranian gasoline, while several gasoline cargoes were shipped to Venezuela, which like Iran is a member of OPEC. Iranian fuel and petrochemical exports have boomed in recent years despite stringent US sanctions, leaving Iran well placed to expand sales swiftly in Asia and Europe if Washington lifts its curbs, trading sources and officials said.. Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020, twice the value of its crude exports, oil ministry and central bank figures show. "The world is vast and the ways of evading sanctions are endless," Hamid Hosseini, board member of Iran's Oil . In 2004 Iran produced 5.1 percent of the world's total crude oil (3.9 million barrels (620,000 m 3) per day), which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency. The economy of Iran is a mixed economy with a large state-owned sector.

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