Monday 7 December 2009

Iran needs $3 bln for 2009/10 fuel imports

Iran needs an additional $3 billion to pay for imports of gasoline until March 2010, a government transport management official said in comments published on Monday.

Iran is the world's fifth-largest oil producer, but lacks sufficient refining capacity and imports large amounts of gasoline, burdening the budget and making it potentially vulnerable to any Western sanctions targeting such fuel trade.

Mohammad Rouyanian, who heads a government transportation management body, was quoted as saying by Abrar daily that Iran continued to import the fuel despite a reduction in the monthly quota of heavily subsidised gasoline available for motorists.

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