BAKU, Azerbaijan, April 30. Iran will produce gasoline from methanol in recent years to eliminate the mismatch between gasoline production and consumption, Iranian Oil Minister Javad Owji told reporters, Trend reports.
According to Owji, methanol prices have fallen in the world market over the past few years. On the other hand, gasoline consumption in Iran has been steadily increasing.
Owji added that Iran has decided to use methanol to strike a balance between gasoline production and consumption.
The official noted that the production volumes of gasoline from methanol in Iranian petrochemical plants will be announced soon.
''Additionally, Iran's crude oil production in the current Iranian year (from March 20, 2024, through March 20, 2025) is planned to increase by 300,000–400,000 barrels per day and add 35 million cubic meters of gas to the production,'' Owji emphasized.
Iran's current methanol production capacity is 14 million tons per day, and work is underway to increase it to 24 million tons daily.
Presently, Iran's 10 refineries process 2,286,000 barrels of crude oil and gas condensate daily. Iran currently produces an average of 115 million liters of gasoline and 112 million liters of diesel fuel daily.
However, Iran's crude oil production rose to 3,508,000 bpd at the end of the last Iranian year (from March 21, 2023 through March 19, 2024).
To note, Iran is considered the world's second-largest gas reserve country, with gas reserves of about 34 trillion cubic meters. Presently, 22 gas fields are operating in Iran. Iran produces 1.07 billion cubic meters of rich gas daily from its gas fields.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel
