News ID: 138115
Published: 0624 GMT March 11, 2016

Iran eyes Central Asia as new bitumen market

Iran eyes Central Asia as new bitumen market

Iran seeking new markets in Central Asia to export bitumen, the head of the bitumen commission of Iranian Oil, Gas, & Petrochemical Products Exporters Association Hassan Tajik said.

"Iran has been lost totally the Chinese and Vietnamese markets due to frauds and low-quality bitumen export during last years, while South African traders are cautious to enter in deal with Iran," Tajik was quoted as saying by ILNA on Friday.

He added that Iran should regain its credit and reputation in global bitumen markets. "Now our focus is Central Asian countries," he added.

Iran produced 4.5 million tons of bitumen, of which 2.6 million tons was exported during the last Iranian year, ended on March 21, 2015.

Tajik said that the country's bitumen export declined in current fiscal year.

He also added that a barrel of Iranian bitumen was $500 per a metric tons, but currently the price stands at around $200.

However, according to statistics, released by Iran's Trade Promotion Organization of Iran, the country's bitumen export value reached $1.17 billion in first 10 months of current fiscal year. A ton of bitumen was sold at $409, about 19 percent less than the previous year, the report said.

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