Iran Achieves Self-Sufficiency In Gasoline Following Easing Of Sanctions

Reports indicate that Iran has achieved self-sufficiency in gasoline production and will now not require imports for its daily domestic needs. According to the country’s official news agency, President Hassan Rouhani launched a refinery that has a production capacity of 3.17 million gallons or 12 million liters of gasoline during its initial phase of production.

On a daily basis, the average consumption rate in Iran is approximately 15.85 million gallons or 60 million liters. With the country producing about 13.2 million gallons or 50 million liters, Iran had to import about 3 million gallons or 11 million liters of gasoline.

Euro IV standards

According to the news agency, the refinery is located in Bandar Abbas, a port city that is located about 1,205 kilometers or 750 miles from Tehran and has the capacity to produce 9.5 million gallons or 36 million liters of gasoline that meets Euro IV standards on a daily basis once it is finished next year. The port city is in the southern parts of Iran in Hormuzgan Province.

Besides gasoline, 1.2 million gallons or 4.5 million liters of diesel fuel are produced at the refinery. Other products produced at the refinery include 264,000 gallons of paraffin and 340,000 gallons or 1.3 million liters of LPG (liquefied petroleum gas). By the time the refinery has reached full capacity, Iran will also become a net exporter of gasoline.

Easing of sanctions

The president of Iran attributed the nuclear deal that was reached in 2015 as helping the project get to its current stage as the agreement allowed for lifting of the sanctions on the country in return for capping its nuclear activities. According to Rouhani, the refinery would never have taken off without the nuclear deal being passed.

Hardliners in Iran have said that the 2015 nuclear was unfair to Iran but Rouhani insisted that the progress made with the refinery should provide the evidence needed to prove that the nuclear deal was largely positive.

“Those who say we have not seen results from the deal, come to the refinery and see all the related equipment that has been imported into the country without any hassle,” Rouhani said.

May 19 polls

Rouhani is seeking re-election in the presidential polls that will be held on May 19. Hardliners who are also running attribute longstanding problems in the country including the economic recession and the high unemployment to Rouhani though he has only been in power for four years.

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