TEHRAN (Commodity Online) : Embargo stricken Iran said it could become one of the largest gasoline exporters in a few years after commissioning several oil refineries by the end of this year.
According to country's petroleum ministry, Iran hopes to become one of the largest gasoline exporters in the region and the world in 2-3 years time.
Despite being a major crude producer, a lack of refinery capacity means Iran is heavily dependent on gasoline imports.
The International Energy Agency says Iran imported 400,000 barrels of gasoline a day in 2009, but predicts that volume to shrink to 100,000 barrels by 2015 as Tehran increases refinery capacity and eliminates fuel subsidies.
Anglo-Dutch concern Royal Dutch Shell terminated gasoline deliveries to Iran in March. Dutch-Swiss traders Vitol Holding and Trafigura as well as Swiss raw materials trader Glencore also suspended gasoline supplies. In April, Russia's largest independent oil company LUKoil followed suit.