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Iran’s subsidies for energy carriers stand at $235B

Business Materials 5 October 2019 12:56 (UTC +04:00)

Baku, Azerbaijan, Oct. 5

By Elnur Baghishov - Trend:

This Iranian year (from March 21, 2019 to March 21, 2020), the total value of subsidies allocated and to be allocated for energy carriers is 9.87 quadrillion rials (about $235 billion), according to a study by an Iranian government agency, Trend reports referring to Tasnim news agency.

Some 5.41 quadrillion rials (about $128 billion) are expected to be allocated for natural gas consumption this Iranian year, according to the study.

Energy carrier

In rials

In US dollars (official exchange rate)

Natural gas

5.41 quadrillion

128 billion

Electricity

10 trillion

238 million

Oil products (considering costs for transportation, distribution and sale)

4.36 quadrillion

103 billion

Gasoline

1.8 quadrillion

42.8 billion

White oil

1.5 quadrillion

35.7 billion

Diesel fuel

1.81 quadrillion

43 billion

Fuel oil

2 quadrillion

47.6 billion

Liquefied gas

1.7 quadrillion

40.4 billion

Fuel for aircraft

1.2 quadrillion

28.5 billion

Costs for transportation, distribution and sale

1.1 quadrillion

26.1 billion

Total of subsidies allocated for energy carriers

9.87 quadrillion

235 billion

Iran’s budget for this year (March 21, 2019 - March 21, 2020) is 17.4 quadrillion rials (about $415.5 billion).

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