Iran to boost storage capacity for oil products by one billion litres

Iran Materials 22 August 2012 15:50 (UTC +04:00)

Azerbaijan, Baku, Aug.21/ Trend F.Milad/

Iran will add some one billion litres to the storage capacity of strategic oil products by the end of the current calendar year (March 20, 2013), the National Iranian Oil Products Distribution Company's managing director Jalil Salari said.

Four new oil storage facilities will be inaugurated in the future across the country, he said, adding that the stored oil products will be sufficient for 80 days.

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.

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.