Iran expanding range in oil product markets
Iran has rapidly increased its oil production from 2.8 million barrels per day (mb/d) in 2015 to 3.8 mb/d in September, but the country is also preparing to get into oil products markets seriously. A source in Iran’s Oil Ministry told Trend on condition of anonymity that during the last fiscal year (ended on March 20), Iran exported 33.3 million liters per day (ml/d) of liquid fuels, of which about 82% was fuel oil. The figure indicates 44 percent growth year-to-year. On the other hand, the latest official statistics indicate that despite increasing the gasoline imports by 25 percent to 12 million liters a day during the first quarter of the current fiscal year, Iran increased gas oil export 430 percent to 13 ml/d, while the fuel oil and LPG exports also experienced a significant growth. Iran's gas oil and fuel oil consumption at power plants decreased by 55.3 and 56.6 percent respectively during the first half of the current fiscal year, according to the official statistics