Iran plans to boost fuel storage capacity to 12.8 billion liters

Business Materials 4 September 2012 10:51 (UTC +04:00)

Azerbaijan, Baku, Sep.4/ Trend F.Milad/

Five fuel storage facilities will be inaugurated in Iran by March 2013, boosting the national fuel storage capacity to 12.8 billion liters, official at the National Iranian Oil Products Distribution Company Heydar Shamsi stated today.

"Four new storage facilities will be commissioned by the end of the current Iranian year (March 20, 2013)," Heydar Shamsi told the Mehr news agency.

At present, Iran has the capacity to store 11.5 billion liters of fuel, which is sufficient for 58 days consumption. Last year, 16 storage facilities were inaugurated nationwide, boosting the country's storage capacity by 1 billion liters. The storage capacity is planned to hit 14.5 billion liters by 2016.

"A package of investment, worth $47.5 billion, has been prepared to develop different sectors of the oil refining and distribution industry," Deputy Oil Minister Alireza Zeighami said.

He also said that the national oil pipeline network will be expanded from 3,700 kilometers to 5,100 kilometers by 2015.

Some $2 billion should be invested by 2015 to boost the storage capacity of oil products, the official noted.

Iran is now exporting gasoline and diesel fuel to neighboring countries, Zeighami said earlier this month.