| 26 February 2024, Monday |

Iran’s gas, petrochemical export earnings surge in year to March

The semi-official Fars news agency said on Wednesday that Iranian gas export income increased by more than 250 percent in the year to March, while earnings from petrochemical exports doubled.

Overall energy export revenues, including oil, increased 2.5 times, he claimed, but he only provided a breakdown for gas and petrochemicals. Iran does not provide data on its oil exports.

According to the minister, the increase in revenue was partially due to higher exports and partly owing to Iran’s ability to collect more of the earnings from exports despite US sanctions.

“Our government has collected all of the earnings from its oil, gas, gas condensate, and oil products exports through various channels,” Owji added.

Profits from gas exports increased to $4.6 billion from $1.27 billion last year, while revenues from petrochemical product exports more than doubled to $12 billion, according to the ministry.

  • Reuters