Iran will increase its production of Euro 4 standard gasoline to 35 million liters/day (220,000 b/d) by mid-2016, comprising half its total gasoline output, National Iranian Oil Refining and Distribution Company Managing Director Abbas Kazemi told official news agency Shana this week.
This represents a 45.83% increase in the country's current Euro 4 gasoline production of 151,000 b/d, or 40% of total gasoline output.
The launch of the upgraded Bandar Abbas refinery will help reach that goal, Kazemi was quoted as saying.
The 335,000 b/d refinery is being upgraded to increase gasoline output by 30,000 b/d to 95,000 b/d, according to the company.
Iran's other aging refineries are not able to keep up with rising domestic demand for transport fuel and imports are set to increase, market participants said.
Iran imported around 33,000 b/d of gasoline in 2015, according to Joint Organisations Data Initiative data.
This is expected to grow substantially in 2016 as some sanctions on the country have been lifted.
Iran was a regular buyer of Indian gasoline, mainly from Reliance, before sanctions were imposed over its ambitious nuclear program.
