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Iran cementing its position in petroleum products market

Business Materials 4 October 2016 12:58 (UTC +04:00)
Iran’s liquid fuels export stands at 400,000 barrels per day (b/d), but the country plans to increase this volume by 33 percent in three years.
Iran cementing its position in petroleum products market

Baku, Azerbaijan, Oct. 4

By Dalga Khatinoglu – Trend:

Iran’s liquid fuels export stands at 400,000 barrels per day (b/d), but the country plans to increase this volume by 33 percent in three years.

Iran shares 13.5 percent of the total Middle East oil products export with selling 60 million liters per day (ml/d) or about 400,000 b/d, the head of National Iranian Oil Refining and Distribution Company told Shana Oct.4.

The figure was less than 33 ml/d during the last fiscal year, according to the official statistics.

“Currently the capacity of exports stands at 500,000 b/d, but the figure hasn’t been realized because of the rapid export growth, loading restrictions and export limits, but we planned to export 600,000 b/d (80 ml/d) of liquid fuels by March 2020,” he said.

According to the official documents obtained by Trend, Iran is preparing to increase the gasoline and gas oil exports to 8 ml/d and 37 ml/d by March 2018, while the figures are expected to reach 42 ml/d and 67 ml/d respectively in 2021, when Persian Gulf Star Refinery's all three phases with 360,000 b/d of processing capacity become full operational and three other refineries including Siraf Complex (400 kb/d), Bahman Geno (300 kb/d) andAnahita (150 kb/d) be commenced.

Currently fuel oil shares 24 percent of Iran’s total refinery capacity, but this volume would decrease to below 10 percent in the next five years.

The official documents also indicate that Iran has planned to export only 16 ml/d of fuel oil in 2021.

Iran is planning to increase the refinery capacity from the current 1.8 mb/d to 3.1 mb/d in 2021.

Iran has planned to invest $32 billion in new refinery projects and allocate $10 billion for upgrading the current nine refineries by 2025.

Dalga Khatinoglu is the head of Trend Agency's Iran news service, follow him on Twitter:@dalgakhatinoglu

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