Oil & Gas

30 May 2022

Iran’s Two-Month Petrochemical Export Revenues Surge 64% On Year

30 May 2022  by   
Iran’s revenues from petrochemical exports surged by 64% year on year to $2.45bn in the first two months of its fiscal year, official data showed on Sunday.

The revenues were for the period 21 March to 21 May 2022.

The country’s overall energy export revenues rose by 60% year on year during the same period, the Iranian oil ministry news agency SHANA quoted spokesman Ali Forouzandeh as saying.

No exact revenue figures were provided.

Iran is one of the five founding members of oil cartel OPEC.

The recent surge in oil prices has boosted Iranian oil exports, which are still facing heavy sanctions imposed by the US for the Middle Eastern country’s nuclear programme.

Indirect talks between Iran and the US on reviving the nuclear deal resumed earlier this year.

In 2018, then US President Donald Trump exited the 2015 nuclear accord between Iran and five world powers, and re-imposed sanctions aimed at curbing Iran’s oil exports.


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