Monthly loading, unloading of oil products at Iranian ports up 28% yr/yr

Some 3,705 tons of oil products were loaded and unloaded at ports of Iran during the eighth Iranian calendar month of Aban (October 23-November 21), registering 28.4 percent rise compared to the same month in the preceding year.

As reported by IRNA on Saturday, the figure had witnessed only a 5.4-percent rise in the seventh Iranian calendar month of Mehr (September 22-October 21), year on year.

The growth in loading and unloading of oil products among other commodity groups comes in a time when the United States has also added oil products such as petrochemicals to its sanctions list.

Since the U.S. withdrew from Iran’s nuclear pact in May 2018, vowing to drive Iran's oil exports down to zero, the Islamic Republic has been taking various measures to counter U.S. actions and to lessen it's economy’s reliance on oil.

In this regard, the country has been implementing new strategies like focusing on the development of the country’s refineries and also offering oil products at the country’s stock market to increase the exports of such commodities.

Over the past few years, Iranian think-tanks and energy experts have been repeatedly stating that the country should increase its refining capacity in order to lessen the economy’s reliance on crude sales.

China, Iraq, the United Arab Emirates (UAE), Afghanistan and India are among the top destinations for Iranian oil products.

source: Tehran Times

petrochemicals oil products