Gas condensate exports fall in H1

TEHRAN, Oct. 07 (MNA) – Iran exported 4.644 million tons of gas condensates worth $2.417 billion in the first half of the current Iranian year that ended on September 22, according to data released by the Islamic Republic of Iran Customs Administration.

The figure, which indicates a 46% and 28.58% decline in terms of volume and value respectively compared with last year's corresponding period, could accompany the National Iranian Oil Company's plan to stop export deals for gas condensates with foreign customers to increase its use in more profitable petrochemical industries.

The Energy Ministry has also envisaged to make a better use of the strategic fuel in its refineries in a bid to reach more value added products and subsequently reduce the exports of raw crude.

The Persian Gulf Star Refinery in the city of Bandar Abbas, Hormozgan Province, and Borzouyeh Petrochemical Company, the world’s largest aromatics production complex with a capacity of 4.5 million tons per year, are the biggest local consumers of gas condensates.

According to Customs report, gas condensate had a 8.2% and 10.46% share in the country’s total exports in terms of tonnage and value respectively. Last year's exports in the similar period amounted to 8.629 million tons worth $3.385 billion.

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