Iran inaugurates gasoline, jet fuel production units yesterday.

Iran Gasoline project.

Two new units came on stream at the Lavan Oil Refinery in southern Iran that will boost the country’s gasoline production capacity by 2.8 million liters per day and its jet fuel production capacity by one million liters per day.

Iranian President Mahmoud Ahmadinejad and Oil Minister Rostam Qasemi officially inaugurated the units, which are located on the Persian Gulf island of Lavan in Hormozgan Province, on Tuesday.

[tbpspa]

Some other renovated units of the refinery, which will increase the daily output of furnace oil to two million liters and liquefied gas to 200 tons, were also officially brought back on stream at the ceremony.

The projects cost a total of 6.5 trillion rials (about $ 530 million based on the official U.S. dollar exchange rate of 12,260 rials).Products of the Lavan Oil Refinery meet the Euro-4 standards, according to the Pana News Agency.

In April, Iranian Deputy Oil Minister Alireza Zeighami said that according to current projections, Iran will export 30 million liters of gasoline per day by 2015, despite the international sanctions imposed on the country. Zeighami added that Iran’s gasoline production will hit 70 million liters per day by the end of the current Iranian calendar year, which concludes on March 20, 2014.

[tbpspa]

Iran exported over 132,000 tons of gasoline, valued at $ 134 million, in Iranian calendar year 1391 (March 2012-March 2013).According to data compiled by Iran’s Customs Administration, gasoline exports rose by 127 percent in value and 108.5 percent in volume in 1391 compared to Iranian calendar year 1390 (March 2011-March 2012).

In addition, Iran is currently a leading producer of jet fuel for passenger and cargo planes.

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