Iran 5-month petchem export revenues up $0.9b Y/Y

SHANA — Iran’s petrochemical export revenues have risen by 900 million dollars in the first 5 months of the current Iranian calendar year which began on March 21, compared to the same period last year.

Stabilized oil prices and the upward trend of prices in global markets is believed by experts to be the major cause of the rise.

Brent crude futures LCOc1, the international benchmark for oil prices, were at $55.50 per barrel at 0653 GMT, up 2 cents from their last close on Tuesday, according to Reuters.

Iranian petrochemical producers have exported 9.18 million tons of petrochemicals during the period, up by 470,000 tons year-on-year.

Revenues generated by the exports stood at $4.59b, up by $0.9b from the same period last year.