Baku, Azerbaijan, Sept. 9
By Elnur Baghishov - Trend:
Iran may earn $30 million daily from exporting oil products, said Spokesperson for Iranian Oil, Gas and Petrochemical Products Exporters' Union Hamid Hosseini, Trend reports via ISNA.
He said that in addition to domestic needs, Iran has an opportunity to export 600,000 barrels of oil products daily, including fuel oil, diesel and others.
He added that there are 300 hydrocarbon processing facilities in Iran.
“Only 10 percent of processing facilities operate,” he said. “Iran may earn $10 billion a year from this sector by establishing operating and other mechanisms.”
He added that a significant progress in the Iranian oil products’ industry may be achieved by increasing the production capacity of the Persian Gulf Star Refinery and enhancing Iran’s processing capacity from 1.8 million barrels to 2.2 million barrels.
“The goal is to create a mechanism to offset the deficit of oil sales this Iranian year (March 21, 2019) by the exports of oil products,” he said.
He noted that the sale of raw materials in Iran’s oil sector should be prevented and conditions should be created for the citizens to invest in the oil sector.
He said that Iran’s exports of oil products may increase with the establishment of a regulator in charge for the sale, transportation, and other operations with oil products.