A top Iranian oil official said the country will begin exporting gasoline before the end of President Hassan Rouhani’s first term in office, which ends in just over a year.
Speaking to the Tasnim News Agency on Saturday, Managing Director of the National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi said Iran will end importing gasoline once the first phase of the Persian Gulf Star oil refinery comes on stream later this year.
He added that the Persian Gulf Star refinery, together with the other development plans in the oil and refining industry, will make Iran an exporter of gasoline, sometime in the middle of the next year.
According to Oil Minister Bijan Namdar Zanganeh, the daily output of the Persian Gulf Star gas condensate refinery in the southern port city of Bandar Abbas will stand at 360,000 barrels, once completed.
Around $3 billion in investment has poured into the major project so far and its completion will need an extra $500 million, the oil minister announced in March.
(Source: Tasnim, under Creative Commons licence)