Iran to open major gasoline production unit

Iran Materials 27 January 2012 17:31 (UTC +04:00)

Azerbaijan, Baku, Jan. 27 / Trend F.Milad/

Iran will launch the country's largest gasoline production unit at the Shazand Oil Refinery to produce 8.2 million liters of premium gasoline per day, an official with the National Iranian Oil Production and Distribution Company (NIOPDC) reported today.

Rashid Seyedian told the Mehr news agency that some €270 million has been invested so far in the project and the unit will open by Feb. 19.

Four development plans will open by the end of the Iranian calendar year (March 19, 2012), boosting the country's gasoline production capacity to 70 million liters per day.

Iranian gasoline imports have slumped by as much as 95 percent over the last four years, according to official government data, as rising refinery capacity and lower fuel subsidies help neutralize Western sanctions aimed at starving Tehran of fuel.