National Iranian Oil Co., or NIOC, doesn't plan to import gasoline or diesel in the current financial year, its executive director said Tuesday.

Iran , which produces 650 million standard cubic meters a day of natural gas, has stepped up domestic usage of gas, Seyed Mohsen Ghamsari told reporters.

Ghamsari is visiting India to discuss an alternative payment mechanism to Iran for crude oil purchases by the South Asian country after Germany reportedly refused to channel payments through its central bank. Iran is the second-largest crude supplier to India, after Saudi Arabia, and accounts for about 14% of the country's oil import bill.

Iran, one of the world's largest oil producers, had long depended on imported gasoline to meet much of its domestic consumption due to a lack of refining capacity. But it increased local output of gasoline due to U.S.-enacted sanctions over its nuclear program.

The country converted at least two petrochemical plants into gasoline-producing facilities as part of efforts to produce more gasoline. And in September, Iran said it has started exporting locally produced gasoline, drawing skepticism from oil-industry experts.

Iran said previously it's unwilling to lift crude output as it believes the Organization of the Petroleum Exporting Countries is producing more than demand despite the recent disruptions in supply following political unrest in Libya.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα