Iran Economy NewsIran says 1b litres gasoline produced since July

Iran says 1b litres gasoline produced since July

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Reuters: Iran has produced more than a billion litres of gasoline since July, in an effort to make the country less vulnerable to sanctions over its disputed nuclear programme, the Oil Ministry’s website Shana said on Saturday.

TEHRAN Nov 27 (Reuters) – Iran has produced more than a billion litres of gasoline since July, in an effort to make the country less vulnerable to sanctions over its disputed nuclear programme, the Oil Ministry’s website Shana said on Saturday.

Oil Minister Masoud Mirkazemi said Iran had been able to cut dependence on imported gasoline substantially since the implementation of an emergency gasoline production scheme at the country’s petrochemical units which went into effect in July.

“So far more than a billion litres of premium gasoline have been produced at domestic petrochemical units and distributed,” Shana reported him as saying.

“The import of gasoline … stood at 20-22 million litres a day before the implementation of the emergency plan.”

He did not specify the level of current gasoline imports to Iran, the world’s fifth-largest oil exporter.

Iran’s current gasoline production stands at around 45 million litres a day with daily national consumption of around 63 million litres, Iranian media reported last month.

International sanctions have been imposed on Iran over its nuclear activities, which the United States and its allies say are aimed at acquiring bombs. Iran denies the claim.

Mirkazemi, echoing Iran’s official stance, said: “Fortunately, we can assure the nation that these sanctions have created no problems in any areas.”

Iran says it needs around $25 billion a year in oil and gas industry investment annually to meet its target development goals because sanctions have frightened away international energy firms.

(Writing by Hahsem Kalantari; Editing by Ruth Pitchford)

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