Iran’s oil discount to China reaches its highest level in a year

Iran’s oil discount to China reaches its highest level in a year

As a new wave of sanctions from the United States, Britain and the European Union target sales of Russian and Iranian oil, trade sources told Reuters that discounts on Iranian oil for Chinese customers have reached their widest in more than a year, reaching as much as $10. Reduced oil import quotas for independent Chinese refiners have also added to the pressure.

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China becomes self-sufficient in propylene production with Iranian methanol

China becomes self-sufficient in propylene production with Iranian methanol

Iran exports millions of tons of methanol to China annually at a meager profit, while the country has created hundreds of times more value added by converting the same methanol into propylene, the “petrochemical caviar,” and has achieved 96 percent self-sufficiency in propylene production. An opportunity that Iran could have used to complete its petrochemical value chain by investing in domestic MTP units and move from selling crude to creating sustainable wealth.
Pazan Square became Iran’s largest onshore gas field

Pazan Square became Iran’s largest onshore gas field

Announcing the discovery of two petroleum and oil tanks in Pazan Square by the Minister of Petroleum, the director of the National Iranian Oil Company's exploration company, with the new volume, described the square as Iran's largest landfill field.
From Maroon Petrochemical’s Failed Experience Downstream to the Mist of Oblivion on the Propylene Chain

From Maroon Petrochemical’s Failed Experience Downstream to the Mist of Oblivion on the Propylene Chain

Energy expert Mustafa Saeedi, referring to Maroon Petrochemical's failed experience in entering downstream industries, emphasized that entering fields that are mainly carried out by small and medium-sized enterprises with teams of 20 to 30 people is harmful for petrochemicals. He criticized the neglect in developing the propylene chain and warned that the continuation of this trend will exacerbate dependence on imports of intermediate and final products.