Premier-eFinance: Iran to begin importing petrol to increase domestic quality.

Aug. 25, 2011 - PRLog -- Iran, one of the world’s biggest oil producers has informed Premier-eFinance that it is to temporarily import petrol to meet its daily consumption needs.

The middle-eastern nations Oil Ministry says the import was required not due to lack of availability but because of low octane in domestically produced petrol that lacks a desirable quality and therefore needs to be mixed with imported fuel with a better quality.

According to media reports, Iran has begun importing 14 million liters of automotive fuel a day.

Iran, because of increased western sanctions earlier said it had achieved petrol self-sufficiency in the last year.

Naser Sudani, deputy head of the nation’s Energy Committee told Premier-eFinance that a major refinery fire and concerns about the quality of Iranian fuel had made the imports necessary.

The decision also enables the government to meet daily petrol needs, following a decrease in output that he blamed on a May 23 blast at the southern Abadan refinery.

The Ministry insisted the imports would definitely be temporarily and would probably come to an end by the end of the Iranian year, by March 2012.

Premier-eFinance has been informed that Iran’s petrol consumption is 60 million liters a day of which 48 million liters is being produced by nine refineries.

Iran is world’s fourth largest oil producer with a capacity to produce 4,172,000 barrels per day.

# # #

Premier eFinance is a full service commodity trading advisory offering services to traders ranging from the beginner, with no experience in the markets at all, to the advanced trader who is just looking for an avenue to place fast efficient orders.