Iran's energy sector review

Iran says it is planning to increase petrochemical exports by 2016. After a huge plunge in Iran's both petrochemical production and export in 2012, the country re-boost the figures, but yet so far from the ideal level. Before sanctions were imposed in mid-2012, Iran was exporting about 21.226 million tons (MT) of petrochemical products worth $15 billion. But the figure decreased to 14.492 MT in a fiscal year corresponding to 2012 and this level had been kept unchanged until last year, when the figure increased by 18.8 million tons. During the first four months of the current fiscal year, started on March 21, Iran exported 8.171 MT, remained unchanged year-to-year, while the production volume stood at 15.66 MT. Iran also increased a petrochemical production level by 4 MT to 44 MT last year and planned to increase the figure to 51 MT in the current fiscal year. However, the nominal capacity of petrochemical production in Iran is around 60 MT. Now, Mehdi Sharifi Nikna

Regardless of how well European oil companies were successful in penetrating Iran's oil market, Japan's oil giants have had restricted ties with Iran's energy projects, mostly focused on a petrochemical plant and an oil field. However, regarding the fact that the world's third economy, Japan, is the second biggest direct investor in the world after the U.S. and has progressive high technologies, Iran can enjoy cooperation with the Japanese in the energy sector. Official  statistics  show Japan’s outflow foreign direct investment (FDI) stood at roughly $119 billion in 2014, down from $135 billion in 2013. A Japanese delegation led by State Minister of Economy, Trade and Industry Daishiro Yamagiwa arrived in Tehran on Aug.8 for a two-day visit and held talks with Iran's senior officials, including Oil Minister Bijan Namdar Znganeh. The delegation comprises trade officials and executives of major Japanese industries such as Mitsui & Co., Kansai Paint Co.