May 13, 2013 (TSR) – Iran will establish six oil refineries in Africa, the chairman of the union of Iranian exporters of oil derivatives announced on Sunday according to the Mehr News Agency.

Memorandums of understanding have been signed with six African countries and preliminary measures have been taken for finding appropriate places to establish the refineries, the agency quoted Hassan Khosrojerdi as saying.
The refineries are projected to have 20,000 barrels per day of capacity, he added.
In March, the Fars news agency quoted an informed source as saying that Iran has come to terms with Algeria, Angola, and South Africa to build small refineries in these countries.
Iran has also been holding talks with Pakistan to establish refineries in the country, the source said, adding the two sides will hopefully ink a deal in the near future.

Iran to hold 38% share of petchem output in Mideast by 2015

Iran will account for 38 percent of petrochemical production in the Middle East by the year 2015, the National Iranian Petrochemical Company (NIPC) planning manager said to Mehr New agency on Monday.

Iran is currently producing 24 percent of the total petrochemical products in the Middle East, SHANA quoted Ramezan Oladi as saying.
Petrochemical exports constituted 37.5 percent of the country’s non-oil exports in the past Iranian calendar year, which ended on March 20, the official added.
Over the past few years, Iran has significantly increased its petrochemical production.
Iran plans to boost petrochemical production by 12 million tons by the end of spring (June 20, 2013), NIPC Managing Director Abdolhossein Bayat said in December 2012.
Bayat added that about $80 billion in investment opportunities have been identified in both upstream and downstream sectors of the Iranian petrochemical industry, and this shows that the industry is taking great steps toward development.
China and countries in Western Europe are the main recipients of Iran’s petrochemical exports, followed by countries in Southeast Asia, the Middle East, the Indian subcontinent, Africa, and Latin America, he noted.
Iran’s petrochemical exports amounted to $12 billion in the past Iranian calendar year, Bayat further said.
Last year, petrochemical products were exported to around 65 countries of the world, he said.

Iran gas income projected to exceed $10bn

Iran’s Deputy Oil Minister has said Iran’s gas export income will exceed $ 10bn.

Javad Owji said that gas exports will exceed 100m cubic meters by the next year. He told Mehr News that income from gas export to neighboring countries had risen. “Currently, Iran exports Turkey an annual amount of gas worth of $ 3.5 to 4bn.

The managing director of Iranian National Gas Company also emphasized that 3 gas export contracts had been signed with Iraq and Pakistan, and that “gas is exported to Iraq through 2 routes to Baghdad and Basra power plants.”

“ with these two contracts operating, Iran will add a total of 40 to 45 million cubic meters of gas to its exports daily,” he added, explaining that “a contract has been signed with Pakistan to export 21.5 million cubic meters of gas to this country, and the first phase of exports to Iraq will operate by the coming summer.”

“Beginning in the early next year, with the completion of construction of pipeline, Iran will be ready to begin exporting gas to Pakistan,” Owji said. “With the export of total of 10bn cubic meters of gas, Iran will receive $4 to 4.5bn in income,” he added, and that “we predict that with current contracts finalized, the country’s total income from gas exports would exceed $ 10bn.”

Owji also pointed to threefold increase in income from gas exports by the next year. “Iran has the capacity to export gas to all neighboring countries especially Persian Gulf countries,” he asserted.

“The price for gas exported to Iraq will be estimated as combination of crude, fuel oil and gasoline prices,” he said, adding that this price was fair, and that “Iran will not export gas in lower prices to any neighboring countries.”

U.S. Illegal ‘Crippling’ sanctions failing

New Congressional Research Service Report on Iran Sanctions says long-terms sanctions have not been working on Iran.

The report said that “the strategic effects of sanctions might be abating,” since Iran has developed its economy and lower dependence on oil.

Israeli Jerusalem Post wrote that New Congressional Research Service Report, a bipartisan research branch, emphasized that sanctions halved oil export of Iran and decreased GNP, but that “sanctions have failed in changing the behavior of Iranian leaders’ policies in the region and the world.”

The report also said that Iran’s influence had not been decreased by sanctions.

“Iranian traders are using informal banking exchange mechanisms and, benefitting from the fall in the value of Iran’s currency, sharply increasing non-oil exports such as agricultural goods, minerals, and industrial goods,” read the report.

The US lawmakers claimed that Tehran had been using its reserves (mainly in Euros) in banks around the world to bypassing sanctions made by the EU and US against Iran’s oil export. The report also emphasized that some believed that long-terms sanctions were even beneficial to Iran, since they forced Iran to expand its economy and decrease dependence on oil income.

The US government with the help of Congress implemented ‘crippling’ sanctions against Iran in last June in energy and banking sectors. Joe Biden, the US Vice-President claimed in the Zionist lobbies meeting that in the course of two months, sanctions would cripple Iran and force its leaders to change their behavior in nuclear issue.

Now after ten months, the Congress, which was the major player, admits failure of sanctions. However, foreign media had hinted to the failure of sanctions after Bahman 22 successful rallies and Iranian people not caring for economic disorders and pressures.


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