Iran to increase gasoline production

(MNA) – Iranian Deputy Oil Minister Alireza Zeighami says the country's gasoline output will increase by a maximum of six million liters per day in the coming six months, Press TV reported.
"Within the next six months, gasoline production projects will be launched at Lavan, Tabriz, and Isfahan refineries, and in this way, six million liters will be added to the current capacity of the gasoline output of the country," the Iranian official said.

Zeighami, who is also the managing director of National Iranian Oil Refining and Distribution Company (NIORDC), further said that the country's refining projects are not facing a shortage of investments.

"The megaproject of the gas condensate refinery of the Persian Gulf Star has attracted good financial resources... Other parties that have a share in providing the resources of this project are needed to put forward their equities," the Iranian official added.

Zeighami also said that NIORDC had asked the parliament to raise the level of the company's credits, earmarked for expanding investments in the refining sector.

Iran attained self-sufficiency in fuel production after its international suppliers stopped selling gasoline to Tehran under U.S. pressure.

At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran's oil and financial sectors.

The sanctions, which prevent the EU member states from purchasing Iran's oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1, 2012.

The illegal U.S.-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegation, arguing that as a committed signatory to Non-Proliferation Treaty and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.