Iran's energy sector review

Although Iran boosted exporting its oil products, but a look at the country's oil production revenues during the last several months indicate a huge drop in prices. Iran's most valuable exported oil products include propane, butane, tar, fuel oil as well as some petrochemical products. Iran's heavy oil price has fallen from about $110 in mid-June to below $68 currently. The country exported about 1.2 to 1.25 million barrels of crude oil and condensate per day in average during ten months of 2014. This figure during 2011 and 2013 was about 2.5 million and 1.07 million barrels per day. Iran's petroleum export revenues ($ billion) based on the Central Bank of Iran's statistics Iran's Custom Administration's latest monthly report, released on Dec.5 indicates that the country's oil product exports have soared since March 21, when Iran's current fiscal year started, but their price has dropped significantly during the last several months as

Compressed Natural Gas sharing 5 percent of the country's gas consumption and 25 percent of the National Iranian Gas Company's revenues has faced a recession during the last few years in Iran. Amir Vakilzadeh, the National Iranian Oil Refining and Distribution Company's director for CNG plans told the Oil Ministry's information website Shana on December 2 that some 2,249 CNG stations in the country are active and the government has plans to encourage the private sector to get involved in CNG projects. The number of CNG stations during last two years increased by 50 percent in Iran, while the consumption rate has not changed. Iranian cars consumes about 20 million cubic meters of CNG per day, equals usage of daily 20 million liters of gasoline. According to NIORDC's annual statistics, Iran's CNG consumption in the fiscal year, corresponding to 2012 was 19 million cubic meters per day (mcm/d), so there hasn’t been any significant increase in Iran's

Iran's national currency has lost about 9 percent of its value versus the US dollar during the last week. Today, each US dollar is sold at 35,200 rials in the Iran's open foreign currencies market, while the official USD rate offered by the Central Bank of Iran is about 26,846. Iranian government calculates the state foreign trade based on official USD rate, including oil revenues, non-oil export and imports. However, most of private traders have no choice, but to purchase expensive US dollar from open markets. During ex-President Mahmoud Ahmadinejad's second term, Iran's rial lost its value by about four times. Each USD was sold at 9,830 rials in 2009, but the figure reached 36, 000 in mid-2013, when Ahmadinejad was by Hassan Rouhani. During last 18 moths of Rouhani's presidency, the USD price in Iran's open markets was almost stable around 31,000 to 32,000 rials, but during last week, the rial lost its value against dollar significantly. What h