Iran increases fuel storage capacity by 127 million litres

Iran Materials 18 June 2012 12:41 (UTC +04:00)

Azerbaijan, Baku, Jun.18/ Trend F.Milad/

A fuel storage facility with the capacity of 127 million litres, was inaugurated in the city of Ahwaz, southwest of Iran, the Pana News Agency reported.

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

The project cost around 140 billion rials (some $11.5 million). Iranian engineers have carried out all the design and manufacturing operations.

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, the Mehr News Agency reported.

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.