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Sadeqabadi said that Iran’s current production of gasoline. around 115 million liters a day. was enough to pump more than 500.000 tons of the fuel for monthly exports.
He said. however. that NIORDC was ready to increase the export capacity to three million tons a month to generate around 1.5 billion in revenues for the government.
The calculations provided by the official were based on figures obtained from sell-offs of several cargoes of gasoline at Exchange (IRENEX)`>.Iran Energy Exchange (IRENEX) over the past eight weeks.
Sadeqabadi said refineries operated by the NIORDC had pocketed more than $430 million in revenues for selling gasoline cargoes at Exchange (IRENEX)`>.IRENEX at a price of $500 per ton.
Exports of gasoline and other oil products started in late August when authorities said there were growing demands from neighboring countries.
It came amid increasing pressure from US sanctions on Iran’s direct sale of crude and concurrent with efforts to strengthen the downstream oil and gas sector.
The growing sale of gasoline comes less than a decade after Iran decided to launch new production facilities or reprogram current refineries to cut imports of the fuel.
That came after the country. which consumes around 100 million liters of the fuel each day. suffered briefly under a previous round of sanctions that targeted gasoline imports.
IRENEX said earlier this week that a $57- million cargo of diesel had been sold at the export ring of the local bourse within minutes of offering to foreign customers.
Early in this month. Customers from Iraq. Afghanistan. Turkey and Pakistan purchased more than $100 million of Iran’s gasoline and liquefied natural gas (LNG) at a local energy market.
Director of the Exchange (IRENEX)`>.IRENEX Seyed Ali Hosseini said that stocks of gasoline and LNG offered at the export ring of the market in the week ending Thursday weighed over 210.000 tons.
He said the gasoline sale generated some $72 million in revenues for Iranian refineries while a total of $30 million was paid for some 106.000 tons of LNG offered at Exchange (IRENEX)`>.IRENEX.
Late in last month. Iranian Oil Minister Bijan Namdar Zanganeh said that his country stands atop members of the Organization of the Petroleum Exporting Countries (OPEC) in production of gasoline. stressing plans to increase exports.
Last year. we produced 76ml liters of Euro (4) gasoline. At present the production has amounted to 115mln liters and we have 11mln liters excessive production and we will plan for its exports. Zanganeh said in a televised interview.
In terms of gasoline production. we rank first in the OPEC. he added.
Early in August. the cargo of Iran-produced gasoline exported to oversees was the first shipment of the home-made product to foreign countries. marking Tehran’s entrance into the global market of the fuel as a seller for the first time in history.
