TEHRAN - Iran will add some one billion liters to the capacity of storing strategic oil products by the end of the current calendar year (March 20, 2013), National Iranian Oil Products Distribution Company’s Managing Director Jalil Salari said.

 

Four new oil storage facilities will be inaugurated in the future across the country, he said, adding that the stored oil products will be sufficient for 80 days.

 

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, the Mehr News Agency reported.

He also said that the national oil pipeline network will be expanded to 5100 kilometers from 3700 kilometers by 2015.

Some $2 billion should be invested by 2015 to boost the storage capacity of oil products, the official noted.

Iran is now exporting gasoline and diesel fuel to neighboring countries, Zeighami said earlier this month.