Baku, Azerbaijan, Apr. 4
By Fatih Karimov - Trend:
Iran's diesel bunkering registered a huge rise by 3275 percent in the eleven months to February 20 compared to the same period, preceding year, Esmail Hashm-Firouz, director of International Affairs of the National Iranian Oil Products Distribution Company (NIOPDC) said.
The term "bunkering" refers to the practice and business of refueling ships. Bunkering operations are located at seaports.
Iran bunkered over 300,000 tons of diesel in the first eleven month of last fiscal year (ended on March 20), however the figure was below the expected, Hashm-Firouz said, the oil ministry's SHANA news agency reported April 4.
The expected amount was not materialized due to market volatility, he said, adding the diesel price witnessed sharp fall by some 300 percent.
He further said that the huge increase in diesel bunkering happened as Iran became a diesel exporter in last fiscal year thanks to surplus production.
Iran also bunkered 4.407 million tons of fuel oil, 25 percent more compared to the preceding year, Hashm-Firouz said. The figure was over the expectations, he added.
Iran is rich in gas reserves and is trying to replace the fuel with liquid fuels as much as possible.
The Iranian Oil Ministry has started replacing natural gas for fuel oil and diesel in power plants and many major industrial units, which counts for the rise in the export of fuel oil and diesel.
The country decreased consumption of diesel and fuel oil in power generation by 31 percent during last fiscal year.
Iran's total liquid fuel consumption reached some 13 billion liters during the said period, of which 56 percent is shared by diesel.