Iran expects to increase petrochemical exports by means of 25%


Iran expects to increase petrochemical exports by means of 25%


General Manager of the company’s business to the Iranian Petrochemical Mehdi Sharifi Nikkenvs said on Saturday that his country expects to increase petrochemical exports by nearly quarter by the end of 2016, 


after the lifting of international sanctions against it.
The news agency quoted the Islamic Republic of Iran  for Nikkenvs as saying that the amount of the increase will be between 20% and 25% within a year or year and a half, he said, adding that the removal of restrictions on banking, insurance, shipping will make exports easier and costs less.
Iran’s Fares news agency reported that Iran exported petrochemical products worth $ 14 billion in 2014, which is less than its exports in 2011, which exceeded $ 18 billion, and is the country’s major oil and gas producers in the world.
International sanctions have not targeted – alta scheduled to lift in the coming months – petrochemical sector in Iran specifically, but exports have fallen since the imposition of restrictions on banks and shipping in early 2012.
The lifting of sanctions on Tehran after reaching a historic agreement with the six world powers on 14 July, provides for the reduction of Iran’s nuclear program in exchange for easing the sanctions.
The International Energy Agency expected Wednesday that Tehran quickly raise oil production by about 750 thousand barrels per day following the easing of sanctions, it will move from the 2.87 million barrels currently to between 3.4 million and 3.6 million barrels in a matter of months after the lifting of sanctions.
World Bank At said his economic issued every three months-that Iran fully return the global oil market will add about one million barrels per day of crude supply, which is what oil prices will cut ten dollars a barrel in the next year, and added that the lifting of sanctions will revive Iran’s economy, which is expected to grow by about 5% in 2016 to 3% in the current year.

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