Iran plans to boost fuel storage capacity by 1.2 billion liters

TEHRAN,Sept.5(MNA) - Five fuel storage facilities will be inaugurated by March 2013 in Iran, boosting the national fuel storage capacity by 1.2 billion liters to 12.8 billion liters, and official with the National Iranian Oil Products Distribution Company stated. Heydar Shamsi told the Mehr news agency that four new storage facilities will be commissioned by the end of the current Iranian year (March 20, 2013). At present, Iran has the capacity to store 11.6 billion liters of fuel, which is sufficient for 58 days consumption. Last year, 16 storage facilities were inaugurated nationwide, boosting the country’s storage capacity by 1 billion liters. The storage capacity is planned to hit 14.5 billion liters by 2016. Deputy Oil Minister Alireza Zeighami has said that a package of investment, worth $47.5 billion, has been prepared to develop different sectors of the oil refining and distribution industry. He also said that the national oil pipeline network will be expanded to 5100 kilometers from 3700 kilometers by 2015. Some $2 billion should be invested by 2015 to boost the storage capacity of oil products, the official noted. Iran is now exporting gasoline and diesel fuel to neighboring countries, Zeighami said earlier this month.