Page 16 - DMEA Week 14 2022

DMEA NEWS IN BRIEF DMEA

PETROCHEMICALS Iran’s petrochemical and mining industries TERMINALS & SHIPPING
are subject to US sanctions but the wide array
Petrochemical and mining of products from these industries and high Iraq can export more than
international demand typically make them
key to Iran’s diversification hard to track and sanction. 3.3mn bpd from southern
The report also stated that gas export
Official export figures said to show how revenues rose 84% in the assessed period ports
Iran’s petrochemical and mining industries to $4.8bn, with Turkey and Iraq the main
have served as the “lynchpin” of Iran’s push markets. Methanol sales, it said, soared Iraqi oil minister Ihsan Abdul-Jabbar said Iraq
to diversify its economy away from oil and 88% to $1.9bn. Iran is the largest exporter can secure exports of more than 3.3 million
make it resilient to external shocks, most of methanol to China, which accounts for barrels per day (bpd) from its southern ports,
importantly US sanctions, have been reported around 60% of global consumption. state news agency INA reported on Thursday.
by Tasnim News Agency. Iran’s overall exports of polyethylene in Iraq oil exports reached 3.244 million bpd
Petrochemical and base oil export revenues four grades were reported as surpassing in March, the country’s oil ministry said last
in the first 11 months of the last Persian $3.7bn, while propane shipments grew 88% week.
year (ended March 20) expanded 44% y/y to $1.6bn, butane exports 99% to more than Abdul-Jabbar expressed “his optimism”
to $22.6bn, cited data from Iran’s Ministry $1bn and urea sales by 142% to $1.5bn. Iran that oil prices would continue to rise over
of Industry, Mining and Trade (IMT) were also sold $1.2bn of bitumen and $715mn of 2022, the official news agency said.
said to show. Mineral sales grew 79% y/y to gasoline, according to the quoted data. REUTERS
$11.5bn, the news service report added. BNE

P16 www. NEWSBASE .com Week 14 07•April•2022