Iran gasoline imports reduced by 50 percent

Iranian gasoline imports have been reduced by 50 percent in the last two months. Ria Novosti reports from Moscow that in May of this year, Iran’s gasoline imports was 120 thousand barrels a day.

According to this report the refined oil products suppliers Petronas, LUKOIL, Royal Dutch Shell, Vitol, Trafigura, British Petroleum, Glencore, Reliance and Ingersoll Rand have stopped gasoline imports to Iran following the 1929 UN resolution which was adopted in June 2010.

French Company Total also stopped sale of Gasoline to Iran in July.

Currently Iran is buying its gasoline mostly through Turkish and Chinese companies.

Massoud MirKazemi, Iran’s Minister of Oil announced that they are ready to produce 15 million litres of gasoline per day through their petrochemical facilities.

He also announced that within three years, they will be able to produce 170 million litres of gasoline per day and predicted that at that point Iran’s domestic gasoline needs would be 66 million litres per day.

He added: “As a result we can say that within three years we will become gasoline exporters.”

Reportedly Iran needs 63 million litres of gasoline per day and it is currently able to produce only 43 million litres of that.