Iran to Halve Gasoline Imports

Iran to Halve Gasoline Imports

Iran plans to halve its gasoline imports during summer 2018, the Financial Tribune reported.

Mohammad Reza Mousavikhah, head of the National Iranian oil Products company, said that imports will see a 50% reduction between late June and late September 2018.

“It is projected that the country will need to import 9 million liters of gasoline per day in the first quarter [March 21-June 21], which will halve in the second quarter,” he added.

Iran gasoline reserves rose by 1.5% compared with the same period in 2017, while the diesel reserves of the country’s power plants have doubled compared to recent years.

“Were it not for the development of Persian Gulf Star Refinery in the southern province of Hormozgan, NIOPDC would have to import 28 million liters of the strategic fuel daily,” the official said, adding that reducing gasoline imports is one of the oil ministry’s top priorities.

The Persian Gulf Star Refinery is being developed over three phases and will have a total processing capacity of 360,000 barrels per day (b/d) of condensate upon completion.

“Once fully operational, the refinery will produce 36 million liters of high-octane gasoline as part of efforts to wean Iran off the import of the fuel product,” he said.


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