There has been an increase in the export of Iranian engine oil this year in comparison to the last year. “Among Iranian companies, Iranol has been leading by 16% increase,” said Mr. Azimi, Iranol’s Sales manager, “it will also increase in benefit in Stock Exchange incoming fall and winter”
The lubricants industry is facing several challenges in Iran, Iranol Public Relations reports. Sanctions have targeted the industry, as well as other sections. Difficulties in supply chain and transportation on the one hand, and unproportionate pricing on the other, have caused plenty of problems for the industry. However, in the spring/summer period it has raised in export in comparison to the last year. Whenever excess supply in the internal market occurred, Iranian lubricant companies have been successful in international markets. There are currently four lubricant companies active in Iran
Iranol has the highest rate of export quantity. Following Iranol, Behran Oil Co. has 9% and Pars Oil. Co. has a 7% increase in export in comparison to the same period in the last year, according to Azimi
“In whole quantitative sales, Iranol has 20% more raise with which, again leads the market”, he added, “We are trying to continue to increase in the following seasons”
“Iranol has obtained more than 30% of market share and has planned to raise lubricant production to 200 million liters by 2021
World market of engine oil
Engine oil is characterized by HS Code 271019. This is standard code used for Petroleum Oils, Oils from Bituminous Minerals (other than Crude) & Products Containing by Weight Gt=70% or more of these Oils, not Biodiesel or Waste. As a result of its wide range of products, there is no detail of export and import available. However, it is estimated that it exceeds 476 billion dollars in the world and the most shares belong to Russia, the USA, and South Korea. China and India are competing with Iran in the middle eastern market. Despite all limitations, Iranian lubricant companies have exported to 18 countries, including India, Cameroon, Georgia, Iraq, Côte d'Ivoire, Syria, Turkey, Turkmenistan, Azerbaijan, and Senegal
23 October 2020 Print
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