Iran's energy sector review

Statistics released on the Iran Custom Administration's Internet portal on May 28 indicates a falling import value under the non-oil export level during last two months. The country exported $6.137 billion worth of non-oil goods (Iran includes condensate in its non-oil exports category) during the first two months of the Iranian calendar year started on March 20, while imports were at $5.692 billion during same period. Iranian Supreme Leader Ayatollah Ali Khamenei has called on the government to enforce the 'resistant economy' due to imposed economic sanctions on Iran by western countries. Comparing the newly released statistics for about the first two months of the Iranian calendar year, with those published by the Customs Administration in May 2012 around the same period, there is an indication of a 32.47 per cent decrease in import value. Overcoming the export value on imports occurred during the first two months of the current solar year, while Iran had above $...

In the current Iranian calendar year's budget bill, Mahmoud Ahmadinejad's administration has suggested increasing feed gas prices for petrochemical complexes by four times. The Mehr News Agency reported on May 27 that although the legislators have rejected the plan, the oil ministry officials believe that the feed gas prices for petrochemical complexes will be increased certainly. Natural gas is the main feedstock of the petrochemical industry. Currently the Iranian government sells natural gas to petrochemical complexes at the price of 700 rials per a cubic meter (about 3 cent). The suggestion comes as according to the official statistics of Iran Customs Administration, the country's petrochemical exports in the previous calendar year (which ended March 20) faced 33 per cent decrease compared to its preceding year, falling to 10 billion dollars from the previous figure of 15 billion. Iran averagely feeds 35 to 40 million cubic meters of natural gas per day to its ...