Azerbaijan, Baku, Dec.18 /Trend, A.Yusifzade /
Iran will increase its fuel storage capacity by 5 billion barrels to reach 16.7 billion liters, Mehr news agency quotes the National Iranian Oil Products Distribution Company (NIOPDC) managing director Farid Ameri, as saying.
The current storage capacity of oil products in the country is around 11.5 billion liters, but it will reach 16.7 B/L by the fifth five year development plan (2010-2015), Ameri said.
He said that, taking into account the added storage capacity, NIOPDC will have no problem in providing the people with oil products including gasoline, gasoil and kerosene during the winter.
With refinery upgrades expected by late this year, Iran's nine oil refineries should cut dependence to 25 percent, the Iranian Oil Ministry's official news service, SHANA. And with other upgrades already underway and even partial success in completing the seven new refineries already under construction, Iran expects to become a gasoline exporter by 2012.
The Managing Director of National Iranian Oil Company Seifollah Jashnsaz said earlier that the Islamic Republic already has 9 refinery development plans underway and major advances of between 80 and 90 percent have been made in this respect.
Iran has signed a deal, estimated to worth about $3 billion, with the Chinese consortium for the development of two Iranian oil refineries.
Under the deal, the Chinese consortium would help Iran to build a new oil refinery in the southwestern oil-rich province of Khuzestan.
Chinese investors will also finance a project to increase the capacity of an existing oil refinery in the Abadan city by 210,000 bpd to 360,000 bpd.
According to the deal, estimated to worth $2-$3 billion, both projects will become operational by early 2013. The report did not say which Chinese companies will be involved in the projects.
Oil products inventories including fuel oil and gas oil have increased by 15 to 20 percent this year and the country faces no problem to meet fuel in winter", managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) Alireza Zeighami said earlier.
Noting on plans to increase the oil products storage over the fifth five year development plan (2010-2015), Zeighami pointed out that the country's increasing population had led to increasing oil products consumption so building additional oil products storages are necessary for sustainable delivery of fuel in winter.
National Iranian Oil Products Distribution Company (NIOPDC) established in 1928. The company has been responsible for supply and distribution of oil products for over 80 years.
The company has 86 oil products storage facilities with capacity of roughly 11.5 billion liters, over 2,850 fuel stations (200 governmental and 2,650 private ones), 45 aviation filling centers, about 15,000 oil and gas tankers and oil products' transportation pipelines and fuel carrying vessels. NIOPDC is responsible for distribution of over 220 million liters of oil products per day throughout the country.
A bulk of the required products of the country is produced in Iran's local oil refineries and the rest is imported.