BAKU, Azerbaijan, October 17. The work is underway to increase Iran's gasoline production to 129 million liters per day within five years (from March 20, 2024 through March 20, 2029), Iran's Deputy Oil Minister and Executive Director of the National Iranian Oil Products Distribution Company (NIOPDC) Mohammad Sadegh Azimifar said at a conference in Tehran on "Winter Fuel Supply" conference on October 16, Trend reports.
According to him, producing gasoline in the specified volumes is one of the main goals of the national company for refining and distribution of petroleum products.
Azimifar added that the company is moving in this direction using all available mechanisms and financial resources. The company's agenda is to maximize the potential of existing refineries, commissioning of refineries, and facilities whose physical work has been largely completed.
The official stated that the company is also focusing on diversifying its fuel portfolio. The utilization of different types of fuel can have a positive impact on reducing gasoline consumption. In recent years, consumption of CNG fuel has decreased from 24 million cubic meters to 19 million cubic meters per day. This is not a positive development.
He noted that from March 20 through October 15 (2024), gasoline consumption increased by 7 percent, or 1.6 billion liters, compared to the same period last year.
To note, crude oil and gas condensate are currently refined at ten refineries in Iran. On average, 111 million liters of gasoline are produced daily in Iran. Currently, more than 70 percent of the gasoline and diesel produced in the country-75 million liters of gasoline, 70 million liters of diesel is produced under Euro 4 and Euro 5 standards. It is expected that by March 20, 2027, more than 75 percent of this gasoline and diesel produced will be manufactured under Euro 4 and Euro 5 standards.