6.5 billion dollar foreign exchange rating of Iranian petrochemical companies in 2023

According to Energy Press, Fariborz Karimayi, Deputy Director of the Petrochemical Industry Employers’ Association, said: Last year, petrochemical companies exported 16 billion dollars. It has decreased with the same period of the previous year.
He added: Although there is no difference in the amount and volume of exports with the export of petrochemical products in the first half of last year, although the figures have not yet been compiled, the export value of petrochemical companies in the first 6 months of this year can be estimated at around 6.5 billion dollars.
The deputy official of the Petrochemical Industry Employers’ Association stated: Of course, another thing that has happened since last year is related to the production of gasoline, a part of Nouri and Boali petrochemical products such as Heavy End and Reformit has been allocated for consumption in the gasoline sector, while in the past these products have been exported; Fortunately, the performance of petrochemical companies in the return of currency in the first 6 months of the year is very good, and the statistics of the Nima system and Central Bank are a good proof of this claim.
He continued: Considering that global prices have now reached stability, we hope to have an increasing trend in the export value of products; Of course, in the second 6 months of the year, we will face discussions such as the reduction of gas feed in petrochemicals, which can be effective in the discussion of export foreign exchange.
Karimayi stated that “in the feed sector and its formula, the discussion of exchange rate calculation is very important”, he said: considering that both the government’s previous decree regarding the gas rate was canceled and the Central Bank Governor’s decree regarding the exchange rate in At the beginning of this year, it was reacted by the Parliament, the Ministry of Oil has not yet reached the conclusion that what exchange rate should be included in the feed rate formula.
He added: “Actually, considering all the events that happened in the determination of the exchange rate of the basis of food calculation and the government’s approval regarding food, since all the goods are presented in the commodity exchange with the base currency of 28 thousand 500 tomans, there is no other choice than this.” that feed prices are also based on the exchange rate of 28 thousand 500 tomans and we hope that this matter will be summarized and the final price of gas feed in the past months will be announced soon.
Karimai noted: The Governor General of the Central Bank announced on September 12 that the base exchange rate for food and petrochemical products in the commodity exchange should be the exchange rate, which is currently 37,500 tomans, but this decision will not be retroactive. Therefore, the Ministry of Petroleum should determine and announce the base exchange rate of feed and products for the months before this resolution, equivalent to 28,500 Tomans.
He continued: An issue was raised that based on the revised formula and decree, the floor price of gas feed is 5 thousand tomans, which is not a correct understanding of the government’s decree. Rather, this floor of 5 thousand tomans is related to the price floor of European and American hubs, as they have considered a ceiling for it; In fact, this price floor is not the final price of feed gas in any way, and therefore, if a number less than 5 thousand tomans is calculated in the formula of the past months, this figure will be announced by the Ministry of Oil.