Iran General NewsIran stocks fuel to offset threat of sanctions

Iran stocks fuel to offset threat of sanctions

-

ImageAFP: Iran has increased its stockpile of petrol by over one billion litres (220 million gallons) and plans to boost domestic production to offset possible fuel sanctions, an oil official said on Tuesday. ImageTEHRAN (AFP) – Iran has increased its stockpile of petrol by over one billion litres (220 million gallons) and plans to boost domestic production to offset possible fuel sanctions, an oil official said on Tuesday.

"At the moment the volume of Iran's strategic petrol supplies has increased by over a billion litres," Nooreddin Shahnazi-Zadeh, the head of National Iranian Oil Refining and Distribution Company told Mehr news agency without specifying the total stockpile.

Shahnazi-Zadeh dismissed the threat of sanctions, saying "it is impossible to impose such limitations in the current situation."

Oil-rich Iran, OPEC's second largest oil exporter, is dependent on petrol imports to meet over one third of its domestic consumption, which is about 65 million litres a day, due to shortage of refining capacity.

Shahnazi-Zadeh said the output of Iranian refineries was about 44.6 million litres a day which would increase to 45.6 in the current Iranian year to March 2011.

Western countries led by Washington have stepped up global efforts to secure a fourth round of UN sanctions against Iran for pursuing its sensitive uranium enrichment programme.

Among measures mentioned by top Western officials are restrictions on fuel to the Islamic republic, which announced last November it would launch an emergency petrol production plan in a bid to dodge such punitive measures.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Obama, Congress at odds over Iran sanctions relief

AP: The Obama administration is weighing whether to offer...

Iran spurns US request for bilateral nuclear talks: source

AFP: Iran's delegation to crunch talks with world powers...

You might also likeRELATED
Recommended to you