TEHRAN - Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)’s energy committee says the country’s private sector has managed to export over $1 billion worth of oil products in the first four months of the current Iranian calendar year (March 21-July 22), IRIB reported.

The private sector exported 2.7 million liters of such products in the mentioned period, which is an indication of this sector’s huge capacities for bringing foreign currency into the country’s economic cycle, Reza Padidar said on Monday during the 12th meeting of the TCCIMA energy and environment committee.

Since the U.S. withdrew from Iran’s nuclear pact in May 2018, vowing to drive Iran's oil exports down to zero, the Islamic Republic has been taking various measures to counter U.S. actions and to lessen its economy’s reliance on oil.

In this regard, the National Iranian Oil Company (NIOC) has been offering a variety of oil products in the country’s energy exchange (IRENEX) in order to encourage the private sector for engaging more in the exports of such products.

EF/MA