Nov. 13 (Bloomberg) -- Iran will increase its capacity to produce gasoline by 16 million liters (4.2 million gallons) a day by the end of the Iranian calendar year ending March 20, the Oil Ministry’s website Shana reported.
Three refinery developments will be completed by the end of March, Shana reported, citing Alireza Zeighami, the head of the National Iranian Oil Refining and Distribution Co. The Persian Gulf state produced 42 million liters a day in May, according to a report at the time by the state-run Press TV.
Iran, the second-largest oil producer in the Organization of Petroleum Exporting Countries, faces obstacles in developing its energy resources due to international sanctions over its nuclear program. The country says it is already making enough gasoline to meet domestic demand, with officials attributing this self-sufficiency to a decrease in local consumption following cuts in energy subsidies in December.
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