Iran set to triple gasoline imports

Mar 09, 2014 12:00 AM

Iran is set to triple its gasoline imports this year as the country’s refineries have ceased producing it, according to Iranian newspaper the Tehran Times.

According to Iran’s director of the National Iranian Oil Products Distribution Company,Mostafa Kashkouli, 10-11 million litres of gasoline will be imported as of the next year.

Over the past three years, 8-10 million litres of gasoline has been produced per day by the domestic petrochemical units, the Mehr News Agency quoted Kashkouli as saying.

Iran’s gasoline production will increase by six million litres a day after a refinery in the south of the country starts producing gasoline in the next Iranian calendar year

The objective will be achieved after the gasoline production unit of Bandar Abbas refinery becomes operational, the project manager said in October 2013.

Ahmad Farzaneh added that the National Iranian Oil Engineering and Construction Company (NIOEC) started the $1,110 million project in 2007.

“Production of 3.5 million litres per day (mlpd) of premium gasoline, 2.5 mlpd of regular gasoline and nearly 8 mlpd of Euro-5 standard gas oil are important achievements of the gasoline production project in Bandar Abbas Oil Refining Company,” the official said.

Iran is on course to become the world’s largest importer of natural gas by 2025 unless it can rein in rampant domestic demand, the head of research at the country’s energy ministry told a conference in Tehran.

Iran sits on the world’s largest gas reserves, according to estimates by BP, and Iranian energy officials have boasted for years about becoming a top gas exporter soon.

Thawing relations with the West since President Hassan Rouhani came to power in mid-2013 have revived hopes that Iran may one day help meet growing gas demand around the world.

But slow progress in developing those reserves over the last decade has stunted gas exports. Meanwhile, domestic consumption is surging as the gas network has grown and more gas is needed to sustain output from ageing oilfields.

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