Iran on Tuesday said it had started exporting domestically produced gasoline after achieving self sufficiency in production.
According to National Iranian Oil Company (NIOC) the first shipment of Iran's gasoline has been exported but didn t reveal the destination.
The company also said Iran s gas oil production also increased to 96 million litres per day and the country no longer needs to import the product.
Iran is the world's fifth-largest oil exporter but a shortage of refining capacity-in part due to a lack of foreign investment-had forced it to import gasoline.
Earlier this month, Iran made the surprise announcement that it had become self-sufficient in gasoline by converting some petrochemical plants to produce the fuel.
Sales of gasoline to Iran have plummeted in recent weeks, but analysts say that may be due more to sellers' reluctance to risk breaking sanctions than to Iran's reduced demand.
According to National Iranian Oil Company (NIOC) the first shipment of Iran's gasoline has been exported but didn t reveal the destination.
The company also said Iran s gas oil production also increased to 96 million litres per day and the country no longer needs to import the product.
Iran is the world's fifth-largest oil exporter but a shortage of refining capacity-in part due to a lack of foreign investment-had forced it to import gasoline.
Earlier this month, Iran made the surprise announcement that it had become self-sufficient in gasoline by converting some petrochemical plants to produce the fuel.
Sales of gasoline to Iran have plummeted in recent weeks, but analysts say that may be due more to sellers' reluctance to risk breaking sanctions than to Iran's reduced demand.
