Iran News ...


08/24/11

Iran to turn into major gasoline exporter in world : Oil Minister

Source: Tehran Times, Economic Desk

Iranian Oil Minister Rostam Qassemi underlined Iran's self-sufficiency in producing the needed gasoline for the country, and said Tehran will turn into a major oil exporter in the world after launching more refineries.

Iranian Oil Minister Rostam Qassemi
Iranian Oil Minister Rostam Qassemi

"Presently we are self sufficient in production of gasoline, while after the completion and putting to use our new refineries throughout Iran, during the course of the next couple of years we will be one of the major gasoline exporters in the world," Qassemi said on Monday.

Touching on the news on ordering for imports of 14 million litters of gasoline, he reiterated, "There is no need to import gasoline presently, but we might need to import some substances for its production." The world's fifth-biggest crude oil exporter has long depended on imported gasoline for 30 to 40 percent of its consumption, but now has become a net exporter.

In April, the National Iranian Oil Engineering and Construction Company (NIOEC) announced that Iran was set to increase its gasoline output by more than four times, from the current 42 million liters (11.09 million gallons) per day to 186 million liters (49.1 million gallons) per day in a five-year period.

Also earlier in April, Iran's former Oil Minister Massoud Mir-Kazzemi announced that the country planned to boost its daily gasoline output by 22 million liters this year.

Speaking to reporters on the sidelines of a ceremony to inaugurate the first phase of the development plan of Lavan oil refinery in the Persian Gulf, the former minister also said that Iran plans to improve the quality of its gasoline production in order to get Euro-4 and Euro-5 standards in the near future.

Mir-Kazzemi had announced in February that the country is prepared to export gasoline to the neighboring countries due to the excessive production of Iranian oil refineries.

Iran is by now ready to export gasoline to the neighboring countries, Mir-Kazzemi said, and reiterated that Iran is now self-sufficient in gasoline production.

Iran increased its gasoline production after the United States and the European Union started approving their own unilateral sanctions against the Islamic Republic over its nuclear program, mostly targeting the country's energy and banking sectors, including a US boycott of gasoline supplies to Iran.

After the UN Security Council ratified a sanctions resolution against Iran on June 9, the US Senate passed a legislation to expand sanctions on foreign companies that invest in Iran's energy sector and those foreign companies that sell refined petroleum to Iran or help develop its refining capacity.

The bill, which later received the approval of the House of Representatives, said companies that continue to sell gasoline and other refined oil products to Iran would be banned from receiving Energy Department contracts to deliver crude to the US Strategic Petroleum Reserve. The bill was then signed into law by US President Barack Obama.

But Iran's self-sufficiency in gasoline production made Washington's plots fall flat. Iran boosted gasoline production so much that in September 2010, the country exported its first gasoline consignment to the foreign markets.

Iran to get its share of shared oil fields

IRI Petroleum Minister Rostam Qassemkhani emphasizing president's support for issuance of participation bills that will be soon issued, said that Iran will get is share of 23 shared oil and gas fields.

According to an IRNA Economic Desk reporter, Qassemkhani who was speaking with the press at the end of the Monday cabinet meeting said that proper plans have been devised for exploitation from the entire shared oil and gas fields.

He further reiterated, "Keeping in mind the importance of the large oil and gas fields, such as the South Pars Field, as well as the shared fields between Iran and Iraq, we have special plans to get our own right of those fields."

The Petroleum Minister also spoke about the gasoline production for passenger cars inside Iran, saying, "Presently we are self sufficient in production of gasoline, while after the completion and putting to use our new refineries throughout Iran, during the course of the next couple of years we will be one of the major gasoline exporters in the world."

Touching on the news on ordering for imports of 14 million litters of gasoline, he reiterated, "There is no need to import gasoline presently, but we might need to import some substances for its production."

Qassemkhani also referred to the oil sales status and selling the first oil batch through the stock exchange market, saying, "We face no problem in selling our oil in the world presently, and get engaged in trade with oil buyers trouble-free."

(Source: Agencies)

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