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Iranian petchem export up by 5% in 10 months

March 04/2020

MOSCOW (MRC) -- Spokesman of Iran's Oil, Gas and Petrochemical Products Exporters' Union, Seyyed Hamid Hosseini said that Irans export of petrochemical products increased 5 percent in the 10 months of the current year (from March 21, 2019 to Jan. 20, 2020) as compared to the last years corresponding period, said Mehrnews.

He made the remarks on Sun. in an interview with IRNA and added, "launching new petrochemical units in the country has been cited as one of the main reasons behind export increase of petrochemicals."

He pointed to the spread of coronavirus in the world and its impact on energy market and added. outbreak of COVID-19 has left severe effects on oil market and downstream industries from two aspects."

According to him, Islamic Republic of Iran may be affected severely as a result of outbreak of coronavirus, for, a major part of Irans petrochemical products is exported to neighboring countries.

Irans petrochemicals are mainly exported to two neighboring countries of Turkey and Iraq, he said, adding, "if closure of borders and insecurity continue in this field, it may affect exports market greatly."

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,904,410 tonnes in the first eleven months of 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments increased from both domestic producers and foreign suppliers. The PP consumption in the Russian market was 1,161,830 tonnes in January-November 2019, up by 7% year on year. Deliveries of all grades of propylene polymers increased, with the homopolymer PP segment accounting for the largest increase.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, petrochemistry, Iran.
Category:General News
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