Iran's gasoline production and consumption balanced

Managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) says Gasoline production and consumption is balanced, reported Shana.

Speaking at a press conference in Tehran, Aliraza zeighami noted that while domestic oil refineries produce 54 million liters of gasoline per day, the country’s consumption is the same.

He went on to say that gasoline production capacity would rise to 90.7 million liters per day up to the end of the Fifth Five Year Development Plan in 2015 while domestic consumption would grow to just 60.6 million liters.

‘Upgrading capacity of the Esfehan oil refinery as one of the most important projects of NIOPDC needs three billion dollars investment that is slated to be provided through domestic and foreign financial resources’, the official told reporters.

Elsewhere in his remarks, NIOPDC’s managing director said that the president had agreed transfer of all oil refineries to the private sector except Imam Khomeini (Shazand) and Abadan oil refineries. The executive added: final decision in this regard will be taken in next week meeting with the Privatization Organization authorities.

Referring to implementation of ten development plans at seven domestic oil refineries and plans for building seven new oil refineries, Alireza Zeighami noted that these projects were the roadmap of the National Iranian Oil Refining and Distribution Company (NIORDC) to put an end to gasoline imports in the future.

‘Processing capacity of seven domestic oil refineries stands at 1.7 million barrels a day that is slated to be increased to 2.144 million barrels at the end of Fifth Five Year Development Plan in 2015 and to 3.3 million barrels per day up to the end of the Outlook Plan in 2025,’ NIORDC official said.

He noted that gasoline production capacity at Abadan oil refinery would climb by six million liters per day by completion of the gasoline making unit amid a plan to increase total gasoline production of the refinery to 18 to 20 million liters in next phases.


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