Publishe Date: 10:54 PM - 6/24/2013 | Print

Iran president to inaugurate 14 fuel production projects

Economy - Iran’s incumbent President Mahmoud Ahmadinejad is set to inaugurate 14 fuel production projects on the southern island of Lavan.

The projects, which will be inaugurated at Lavan Oil Refinery on Tuesday, are aimed at enhancing the country’s gasoline, gasoil and jet fuel production capacity up to Euro-4 standard.

Mohammad-Ali Dadvar, managing director of the refinery, said the new projects would enable Iran to raise its daily Euro-4 gasoline output by 2.8 million liters.

He added that the treatment facility would also see its liquefied gas, jet fuel, fuel oil and granule sulfur soar respectively to 200 tons, one million liters, two million liters and 30 tons a day.

Dadvar noted that Lavan Oil Refinery’s crude oil refining capacity stands at 60,000 barrels per day.

On June 21, Iran’s Deputy Oil Minister Alireza Zeighami said the country has started distributing Euro-4 premium gasoline, which meets European fuel quality standards, in a number of major cities.

Zeighami, who is also the managing director of the National Iranian Oil Refining and Distribution Company, said the Euro-4 gasoline production capacity will rise to 50 million liters per day during the current Iranian year (ending March 20, 2014).

He also said that Iran plans to produce a total amount of 40 million liters of Euro-4 and Euro-5 diesel over the same period.

Euro-4 is a globally-accepted European emission standard for the production of vehicle fuel with significantly low amounts of sulfur.

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

With 137.6 billion barrels of proven reserves, Iran has the world's fourth largest oil reserves, and the second largest gas reserves, estimated at 29.61 trillion cubic meters.

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