Abdolhossein Bayat, who is also managing director of the National Petrochemical Company (NPC), said Sunday that the diversification and identification of new markets for petrochemical products has turned into a strategy for Iran's Oil Ministry.
The official went on to say that the NPC has focused its efforts on finding new markets for Iranian petrochemical products over the past two years and new markets have been found.
He said new markets are chosen according to the buyer behavior and price of petrochemical products.
"Iran currently has no problem exporting petrochemical products," Bayat added, stressing that exports to European countries have not fallen.
Iran exported a total of 18.2 million tons of petrochemical and polymer products, worth about USD 14.2 billion, to more than 60 countries in the last Iranian calendar year (ended March 19, 2012).
During the same period, the country stood second in the world in terms of exporting methanol to Europe.
In terms of value, 22 percent of Iran's petrochemical exports went to China, 13 percent to India, 18.5 percent to the Middle East, 18 percent to the Far East, 23 percent to Southeast Asia, and 5 percent to Europe.
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Despite Western sanctions against Iran's oil and gas industries, the country's deputy oil minister says the export of Iranian petrochemical products to European countries is as usual.
News ID 181772
