Capacity of Iranian refineries rises

With the implementation of new projects named in the fourth national development plan, the output capacity of Iranian refineries will hit 1 bn litres per day, registering a two fold rise in gasoline production alone.
A top official at the National Iranian Oil Products Distribution Company, said some $ 12.5 bn will be funnelled into the country's refinery sector during the fourth development plan. He added 16 oil projects are currently underway of which 12 will be complete by early 2005, and 40 will come on stream in two years' time.

The top official also spoke of a drop in the consumption of refined oil, saying Iran exports 2 mm litres of refined oil as well as 40 to 45 mm litres of fuel oil on a daily basis.
He stated natural gas now accounts for 50 % of the fuel consumed domestically, up 25 % over the past few years.