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August 2011, No. 61


Exclusive 16th International Oil Show

$48 bn to Be Invested in Oil Refineries

Alireza Zeighami, deputy minister of petroleum for refining, told reporters on the sidelines of the 16th International Oil, Gas, and Petrochemicals Exhibition that Iran is currently producing 54 million liters of gasoline and 90 million liters of gas oil per day. He added that the figures are expected to hit 99.7 million liters and 108 million liters by the end of Fifth Economic Development Plan.

Zeighami, who is also managing director of National Iranian Oil Refining and Distribution Company, added that permission has been given to present gasoline on the stock exchange.

He said that since domestic production of gasoline is to hit 100 million liters per day by the end of the Fifth Economic Development Plan, if a total of 55 million liters of gasoline are consumed in the country, about 30 million liters per day will be surplus and allocated to exports.

Deputy minister of petroleum in oil refining added that National Iranian Oil Refining and Distribution Company has started exporting gasoline.

He added that oil products are being exported to Armenia, Afghanistan, and Iraq and single consignments of gasoline have been also exported.

The managing director stated that permission for the export of naphtha has been issued and domestically produced naphtha is mixed with gasoline to raise its octane number to 87. Therefore, instead of gasoline with an octane number of 85, we export naphtha.

Zeighami noted that in parallel to exporting gasoline, naphtha produced in domestic refineries will be exported because it is more profitable than gasoline exports.

"Since petrochemical plants need naphtha, domestically produced naphtha is primarily set aside for domestic petrochemical plants and the surplus is exported" he said.

 

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  August 2011
No. 61