News ID: 262443
Published: 0358 GMT December 03, 2019

Iran logs surge in loading, unloading of petchem cargoes

Iran logs surge in loading, unloading of petchem cargoes

Load and unload activities for petrochemical cargoes at Iranian ports have soared by almost a third in one month, despite sanctions imposed by the United States, meant to disrupt the country's trade of crude oil and related products.

Iran’s Ministry of Roads and Urban Development issued a report saying that load/unload for ships carrying “oil products” had increased by 28.4 percent in the calendar month spanning October 23 and November 22, 2019, compared to the similar period last year.

The ministry said the surge in activity came despite a clear fall in the number of loads and unloads for other cargoes in the same period.

“In the category of load and unload of oil products, compared with similar period last year, the issue is totally different as a figure of 3.705 million tons has been recorded for load and unload of such products,” said the report by IRNA.

It also said figures from the previous month had shown an increase of 5.4 percent for similar port operations compared to October-November 2018.

The increase in trade of Iran’s petrochemical products comes despite repeated attempts by the United States to choke off the country’s flow of revenues related to the energy sector.

The United States has imposed rounds of tough sanctions on Iran’s oil industry since November last year after Washington decided to pull out of an international agreement on Iran’s nuclear program.

Iran has admitted that the sanctions have affected its direct sale of crude, but authorities insist the bans have caused a boom in the refining activity across the country.

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