Iran issues new regulations for petrochemical exports

08 Nov '12

1 min read

The Government of Iran has issued new regulations for petrochemical exports while lifting a ban on export of petrochemicals from the country, Deputy Oil Minister Abdolhossein Bayat has announced, according to Tehran Times.

Earlier, IRNA had reported that the Iranian Organization for Supporting Consumers and Producers had announced that the Government has banned petrochemical exports from the country to “support national production”.

The export ban was applicable on 50 industrial and agricultural products and included petrochemical products used in the textile industry, such as polypropylene and PET.

During the first six months of the current Iranian calendar year that began on March 20, 2012, the oil-rich country exported around US$ 6 billion worth of petrochemical products, and with the lifting of the temporary ban, the total exports during the year are likely to touch US$ 15 billion.

Iran exported 16.2 million tons of petrochemicals to around 60 countries during last year.

Besides China and the EU nations, which were the main importers of petrochemical products from Iran, countries from Africa, Latin America, Southeast Asia, South Asia and the Middle East also imported Iranian petrochemical products in 2011-12.

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