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Weapons of Mass Destruction (WMD)

Iran Press TV

Iran's gasoline, LNG exports hit weekly high sale of over $100m

Iran Press TV

Sat Sep 7, 2019 05:24PM

Iran's exports of gasoline and liquefied natural gas (LNG) have hit a new record as the value of trade at a local energy market exceeds $100 million in a week.

Director of Iran's Energy Exchange (IRENEX) said on Saturday that stocks of gasoline and LNG offered at the export ring of the market in the week ending Thursday weighed over 210,000 tons.

Seyyed Ali Hosseini told the IRIB News that gasoline traded high over the past week with a total sale of 110,000 tons, mostly sold to customers from Iraq, Afghanistan, Turkey and Pakistan.

He said the sale generated some $72 million in revenues for Iranian refineries while a total of $30 million was paid for some 106,000 tons of LNG offered at IRENEX.

The figures come just over a month after Iran started sell-offs for large consignments of refined products at the local energy exchange market.

The move has been aimed at compensating for the lost income in oil exports as sanctions imposed by the United States since November last year continue to hamper direct crude sales.

Gasoline exports have been viewed as a major success of its kind for Iran, a country that relied on imports of the fuel in high quantities just a decade ago.

Hosseini said Iran was the only country in the region with a surplus of key products like high-quality gasoline that could be offered for exports.

Latest government statistics show that total production of gasoline in Iran has exceeded 115 million liters a day with over 90 million liters serving the domestic consumption.

Officials say gasoline produced inside Iran has lowest levels of sulfur and is consistent with the latest global standards on environment protection.

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