Compressed natural gas stations across the country have sustained losses of about $4 million over the last month as the National Iranian Oil Company has restricted natural gas delivery to pumps under the pretext that household gas consumption is above 650 million cubic meters per day, a member of the board of directors at Iran's CNG Employers Association said.
“The economic damage to the sector will be a disincentive to the private companies willing to invest in the industry,” Hamidreza Sohrabi was quoted as saying by ILNA.
The CNG retail sector will be pushed to the brink of insolvency unless it can continue selling the fuel without interruptions, he said adding that frequent power and gas outages in the last 30 days have disrupted the normal function of some equipment and several pumps have to be repaired.
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