Iran ready to meet gasoline needs despite sanctions: official

22:06, June 30, 2010      

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An Iranian oil official said Iran is capable of meeting its gasoline needs under any circumstances without facing any difficulty, despite sanctions against it, the local satellite Press TV reported on Wednesday.

Managing Director of the National Iranian Oil Distribution Company (NIODC), Farid Ameri, said Tuesday that Iran has managed to store 500 million liters more in gasoline reserves in the first quarter of the current Iranian year, starting on March 21, the report said.

Iran does not currently face any problems in the production or import of gasoline, Ameri was quoted as saying.

The remarks came following French oil giant Total's announcement on Monday to halt shipments of oil products to Iran, following new sanctions passed by U.S. parliaments against Tehran days ago.

Both houses of the U.S. Congress passed the Iran sanctions bill last week, saying to punish businesses that supply Iran with refined petroleum or help develop the country's own refining capacity.

As the fourth oil producer, Iran lags behind in oil refinery industry and relies a lot on imports of refined petroleum and other energy products.

However, Iranian officials have reiterated that the West's potential gasoline sanction on Iran over its nuclear program will help the country to gain self-sufficiency in gasoline demands.



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