Iran Gasoline Woes- Impetus for Refinery Expansions
Iran is the world’s fourth largest exporter of crude oil and in 2006 its export volume reached 2.38 million barrels per day. However, Iran is also the second biggest importer of gasoline after the United States. The disparity in these two facts lies in the configuration of refinery system in the country. The configuration of most refineries are simple, outdated and are awaiting refurbishment. The product mix coming out of refineries leans heavily towards heavy oil, gas oil and fuel oil etc. In 2007, gasoline comprised only of 16.0% of the refined product mix. Hence, gasoline is imported from India, China, Singapore and United Arab Emirates to meet its domestic demand coming from transportation segment.
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