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Petroleum Products Exports to Reach 600,000 bpd
Petroleum Products Exports to Reach 600,000 bpd

Petroleum Products Exports to Reach 600,000 bpd

Petroleum Products Exports to Reach 600,000 bpd

Annual export of crude oil byproducts is expected to rise by 200,000 barrels a day to 600,000 barrels daily in the present Iranian fiscal year that ends in March 2018, says Mansour Riahi, chief executive officer of the National Iranian Oil Products Distribution Company.

NIOPDC on average exported 400,000 barrels a day, or 64 million liters per day, of oil byproducts to buyers in the Middle and the Far East in the previous fiscal, Mehr News Agency reported.

The planned increase will largely come from excess mazut and diesel fuel output, as natural gas supply to power plants has reduced the consumption of the two fuels in power stations.

"All domestic power plants will run only on gas feedstock later this year thanks to higher output from South Pars Gas Field and the launch of five new phases last month," Riahi said, referring to phases 17-21.

"The previous fiscal was the first year in the oil industry that exports of petroleum products reached stability," Riahi noted.

He recalled that the sudden suspension of gas flow from Turkmenistan in January compelled  the NIOPDC to increase mazut and diesel supply to power plants, "otherwise exports could have been higher ".

The company sold 220,000 bpd of petroleum products in the two previous fiscals, according to published reports.

 

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