Dependence on Imported Gasoline Coming to an End

Iran has cut gasoline imports by nearly two-thirds to 4 million liters per day compared to the first half of the current fiscal year (March 20-Sept. 21), director of international affairs at the National Iranian Oil Company said on Friday.

"Iran imported roughly 12 million liters of gasoline per day during the first six months, but the volume was reduced to 4 ml/d," Mohsen Qamsari was quoted as saying by Mehr News Agency. He projected consumption to remain at the present level through the current fiscal year that ends in March 2017.

According to the official, Iran is planning to fully meet its gasoline needs from domestic sources.

Data show that from an average consumption of 70.5 million liters per day during the March-Sept. period, 58.5 ml/d was produced by domestic refineries.

According to the National Iranian Oil Refining and Distribution Company, Iran would no longer be dependent on imported gasoline once the first phase of its 360,000-barrel-a-day Persian Gulf Star Refinery in the south is completed.

The facility will process condensate, a light blend of oil found in natural-gas deposits in the South Pars Gas Field, the largest independent gas reservoirs located on the territorial border between Iran and Qatar in the Persian Gulf.

The refinery's launch has been delayed several times due to international sanctions that largely shut out Iran from the global financial and banking system and divested its economy of much-needed investment for several years.

The refinery will have the capacity to produce 36 ml/d of gasoline and 14 million liters of diesel a day.

According to Abbas Kazemi, NIORDC managing director, the first phase of Persian Gulf Star Refinery's Euro-4 gasoline complex is expected to become operational in the near future with a production capacity of 12 million liters per day.

The official noted that the export of other oil byproducts including diesel and mazut has soared.

According to the National Iranian Oil Company, Iran currently exports 600,000 tons of diesel, 140,000 tons of liquefied gas (including LPG and LNG) as well as 2 million tons of mazut per month to target destinations.