Iran’s gasoline output to hit 67 mln liters/day

Business Materials 17 September 2016 14:08 (UTC +04:00)

Baku, Azerbaijan, Sept. 17

By Fatih Karimov – Trend:

Iran’s gasoline output is expected to increase by three million liters per day in the coming months, Abbas Kazemi, the Iranian deputy oil minister, said.

Iran’s daily gasoline production will increase to 67 million liters during the current fiscal year (to end March 2017) once the gasoline producing unit of Bandar Abbas refinery comes into force, Kazemi said, the oil ministry’s SHANA news agency reported Sept. 17.

Kazemi, who heads the National Iranian Oil Refining and Distribution Company (NIORDC), said that the Euro 4 gasoline will share 70 percent of the refinery’s output.

He further said that Iran’s average gasoline consumptions stands at 74 million liters per day, so the country needs to import 12 million liters of gasoline on a daily basis at the moment to meet the demand.

Over the past Iranian year, the gasoline import to Iran increased by 100 percent. In the meantime, the country's gasoline consumption rose by 2 percent.

The Islamic Republic currently imports only Euro 4 gasoline. Iran plans to increase its strategic fuel storage (including gasoline and diesel) capacity to 13 billion liters by March 2017.

The country’s nine refineries averagely produced 62.5 million liters of gasoline per day during the last fiscal year.