Iran to increase oil products storage capacity by 1.3 billion litres
Azerbaijan, Baku, Apr.29/ Trend F.Karimov/
Iran will establish new oil products storage facilities with a capacity of 1.3 billion litres, the Shana News Agency quoted National Iranian Oil Products Distribution Company managing director Mostafa Kashkouli as saying.
The facilities will come on stream by the end of the current Iranian calendar year (March 20, 2014).
At present Iran has the capacity to store 11.5 billion litres of fuel which is sufficient for 58-day consumption. Last year, 16 storage facilities were inaugurated nationwide boosting the country's storage capacity by one billion litres. The overall storage capacity is planned to hit 14.5 billion litres by 2016.
Deputy Oil Minister Alireza Zeighami has said that a package of investment, worth $47.5 billion has been prepared to develop different sectors of the oil refining and distribution industry.
He also said that the national oil pipeline network will be expanded to 5100 kilometres from 3700 kilometres 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 neighbouring countries, Zeighami said earlier this month.