Iran now self-sufficient in modern petrol production, aims to export

By bne IntelliNews May 2, 2017

Iran's President Hassan Rouhani on April 30 inaugurated the country’s first Euro-4 grade petrol facility, making the country self-sufficient in petroleum production, state-run SHANA news agency reported.

"By the opening of the first phase of this refinery, an old dream came true... We are self-sufficient in petrol production, and shortly we will be able to export," Rouhani reportedly said.

The refinery in the southern port of Bandar Abbas brings Iran's fuel production up to modern standards.

Iran’s cities have suffered from inferior-quality petrol and diesel in recent years due to economic sanctions that blocked the import of Euro-4 and Euro-5 fuels. in their absence low-quality fuel was created to fill the gap, causing masses of yellowish clouds to hover over cities.

The Persian Gulf refinery can currently produce 12mn litres of petrol per year, but when fully operational it will be able to make 36mn litres.

It was the nuclear deal between Iran and five world powers lifting sanctions in early 2016 that made it possible to imort the parts needed to construct the facility, Rouhani added.

Khatam al Anbia, a commercial engineering arm owned by the Iranian Revolutionary Guards Corps (IRGC), was awarded the plant construction contract in 2006, but the sanctions severely held up progress.

Related Articles

People of Iran “will deliver a strong punch to the mouth” of Pompeo says military commander

“The people of Iran… will deliver a strong punch to the mouth of the American Secretary of State and anyone who backs them,” a senior Iranian military commander said in a scathing assessment of ... more

Shadowy forex traders return to Tehran’s Ferdowsi Square

Hawkers offering foreign exchange have returned to a corner of Ferdowsi Square in central Tehran despite the ban on non-official forex ... more

EEU, Iran sign interim free trade agreement in Astana

The Moscow-led Eurasian Economic Union (EEU) and Iran have signed an interim free trade agreement (FTA), TASS reported on May 17. “The provisional agreement includes an initial list of goods, ... more

Dismiss