Energy
0

Liquid Fuel Export Comes to the Rescue

New US penalties on Iran’s oil industry have cut crude oil exports by a great extent, yet oil product sales remain strong generating between $300-$500 million a month
Liquid Fuel Export Comes to the Rescue  Liquid Fuel Export Comes to the Rescue

Boosting output of petroleum products is a declared policy of the government and has generated $9 billion from exporting liquid fuels, managing director of National Iranian Gas Company said.
This was possible thanks to “connecting (almost all) thermal power plants and industries (steel and cement plants) to the gas grid and the resultant decline in consumption of liquid fuels in assorted sectors,” ISNA quoted Hassan Montazer-Torbati as saying.
Liquid fuels are mainly derived from fossil fuels and many have a primary role in the transportation sector and the economy. The fuels include gasoline, diesel, kerosene, LPG, propane, butane, jet fuel, methanol, ethanol and butanol.
While US sanctions on Iran’s oil industry, imposed last year, have reduced crude oil exports to a great extent, oil product sales remain strong generating between $300-$500 million a month...

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com