Iran to boost storage capacity for oil products by 1 bln liters
Iran plans to establish storage facilities for oil products with total capacity of one billion liters by the end of the next Iranian calendar year (March 20, 2014), Mehr news agency quoted National Iranian Oil Products Distribution Company managing director Mostafa Kashkouli as saying.
Last year, facilities were built with 86 million liters capacity, he said, adding that 472 million liters have been added to the capacity since the beginning of the current year.
At present, Iran has the capacity to store 11.5 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, Mehr news agency reported.
He also said that the national oil pipeline network will be expanded to 5100 kilometers from 3700 kilometers by 2015.
About $2 billion should be invested by 2015 to boost the storage capacity of oil products, the official said.