Bloomberg News

Iran Gasoline Exports Fall Amid Self-Sufficiency Push, ISNA Says

June 20, 2012

Iran exported $11.4 million of gasoline in the two months since March 20, or 8.4 percent of what it shipped the entire previous year, the Iranian Students News Agency reported, citing customs authorities.

OPEC’s second-largest oil producer exported $134.8 million of motor fuel in the 12 months ending March 19, the end of the last Iranian calendar year, the state-run news agency said. Gasoline exports fell 31.8 percent in the first two months of the new year, according to the report, which didn’t specify the earlier period against which it was comparing.

The Persian Gulf country says it has become self-sufficient in gasoline production since domestic use decreased following a phase-out out of energy subsidies that began in December 2010. President Mahmoud Ahmadinejad said last December that Iran, which is grappling with international trade and financial sanctions over its nuclear program, seeks to become a “major” gasoline exporter by 2013. The country hasn’t imported any of the fuel in the last two years, the report said.

About $10.8 million of Iranian-made gasoline went to the United Arab Emirates during the latest two-month period, the agency said. Buyers last year included Afghanistan, Armenia, Iraq and Oman, as well as the U.A.E., according to the report.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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