Zanganeh ... the export of oil derivatives plays an important role
Iran to boost its oil derivatives exports
DUBAI, March 15, 2015
Iran's oil minister said the Opec members plan to raise its oil derivatives exports over the coming 12 months, the semi-official Fars news reported.
"We are planning to export 20 million tonnes of oil derivatives in the new Iranian year,” Bijan Zanganeh was quoted as saying.
Fars said that was a "considerable increase" but did not give further detail.
The next Iranian year starts on March 21, 2015.
"The export of oil derivatives plays an important role in the implementation of the oil industry projects... Oil projects are financed this way," Zanganeh added.
Iran has earned $1.35 billion for selling more than 3 million tonnes of fuel oil in the 10 months to Jan. 21, up 30 percent in revenue from the same period of last year.
Tehran also earned $963 million in gasoil revenue during the same period, a 30 percent increase from last year, and sold 107,000 tonnes of heating oil, an oil official said in February.
Tehran is in talks with world powers about its nuclear programme, seeking a deal to lift the sanctions that have halved its oil exports and hammered its economy.
US and EU sanctions that came into force in 2012 prohibit the import, purchase and transport of Iranian petroleum products to put pressure on Tehran to halt its disputed nuclear programme. Washington has also pressed its allies around the world to clamp down on the shipping of Iranian oil products.
But Iran is sidestepping the sanctions and managing to sell hundreds of thousands of tonnes of fuel oil and gasoil every month through companies based in the US-allied UAE, trading sources have told Reuters.
Tehran has used innovative methods to circumvent the restrictions, including ship-to-ship transfers, discharging and loading at remote ports, blending Iranian products with fuels from another source to alter the shipment's physical specification, the sources have said.--Reuters
