Iran seeks to be gasoline exporter

Iran's oil minister Massoud Mirkazemi has said the country will become a gasoline exporter in the next four years, playing down the impact of new sanctions which are curbing its ability to import the refined fuel, Reuters has reported. The Islamic republic aims to avert any gasoline shortages by suppressing demand and increasing refining capacity, something which the minister said would reverse Iran's current position as a net importer. "It is predicted that Iran's gasoline production capacity will increase to 170 million litres per day by the end of (Iranian year) 1392 (March 20, 2014) and the country's need for gasoline in that year will not be more than 66 million litres per day. Therefore Iran will become a gasoline exporter," Mirkazemi said.