Iran to increase fuel production

Business Materials 16 October 2021 09:34 (UTC +04:00)
Iran to increase fuel production

TEHRAN, Iran, Oct.16


Iran is increasing fuel production to supply rising gasoline consumption and prevent the sale of raw materials, Trend reports citing IRNA.

The country's agenda is to increase the production of refineries to 3.5 million barrels per day, supply domestic needs, and expand oil products exports.

The production has increased to 2.2 million barrels per day in the current Iranian year (started March 21, 2021) indicating 46 percent growth compared to 2001.

Iran's Oil Minister has recently announced oil products and gas condensates will increase, predicting 3.5 million barrels per day in the next four years. The country plans to constructs more refineries and has already attracted eight investors for the purpose.

The country's gasoline consumption has reached 100 million liters per day in late July following the coronavirus control. Iran's gasoline consumption is predicted to increases in the future, leading to a possible halt of export.