Report: Iran expects 30% increase in gasoline imports

Nov 11th, 2008

TEHRAN, Nov. 10 (Xinhua) — Iran expects a 30-percent increase in gasoline imports next month, compared with last year’s average, the semi-official Fars news agency reported on Monday.

The rise of gasoline imports in December is to compensate for output lost during a heavy work schedule at oil refineries in the fourth quarter, Fars quoted trade sources as saying.

The imports would amount to about 136,000 barrels per day (bpd)of gasoline in December and to 120,000 bpd in November, the sources said on Sunday.

The falling prices amid a global gasoline glut and lower demand from top consumers, including the United States and China, were also encouraging Iran to buy more, Fars said.

Reportedly, Iran, the world’s fourth-largest oil producer, had maintenance planned at two of its largest refineries in this quarter.

It was scheduled to shut a 180,000-bpd crude unit at its 450,000-bpd refinery in Abadan in south-western province of Khoosetan for 30-40 days from the end of October.

There were also plans to shut a 120,000-bpd vacuum distillation unit at its second-largest refinery, the 270,00-bpd plant in Isfahan, for three weeks of maintenance work from early October.

Iran lacks sufficient refining capacity to meet its needs, forcing it to import the shortfall and burdening state finances. Tehran pays international prices for the fuel but its subsidies at the pump ensure its gasoline is among the world’s cheapest.

In a bid to curb consumption, Iran introduced rationing in June2007.

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