Petrochem Exports Up 12%

Petrochem Exports Up 12%Petrochem Exports Up 12%

More than 6 million tons of petrochemical products, valued at $3.6 billion, were exported in the first four months of the current Iranian year (began March 21), production manager at the National Petrochemical Company said.

Export of petrochemicals in the period has increased by 12% in terms of weight and 6% in terms of value compared to the corresponding period of last year, Ali-Mohammad Bosaqzadeh was quoted by IRNA as saying.

In addition, around 4.4 million tons of petrochemicals worth 86,000 billion rials ($2.6 billion) were sold domestically.

“The volume of petrochemical exports to Europe is currently marginal, but we are planning to increase this amount when sanctions are lifted,” he said.

The official said there is competition between Iranian and Turkish exporters to gain a share in the Iraqi petrochemical market.

"In order to maintain their market share, Iranian firms should take heed of quality and price of their products," he said.

Pointing to the London seminar planned in December, in which Iran will offer multiple oil, gas and petrochemical projects to foreign investors, Bosaqzadeh said several petrochemical projects are to be put under the hammer during the event.

Iran has lined up 50 energy projects worth $185 billion for presentation at the London seminar.