News

TEHRAN, Feb. 1 (UPI) -- With five additional
oil refineries planned, Iran expects to boost capacity to the point that
it becomes a gasoline exporter, state media reports.

Iran under a five-year development program plans to build five new
oil refineries and two production facilities.

The Persian Gulf coast city of Bandar Abbas will host the largest
facility, the Persian Gulf Star, with the capacity to produce 9.4
million gallons of gasoline
per day, Iran's officials Islamic Republic News Agency reports.

IRNA said net production from the new facilities will not only meet
domestic demand for gasoline, but also position the country as a net
exporter.

Iran last week announced it began working on its first-ever diesel
engine to fit its Samand line of passenger vehicles by the end of 2011.
Officials expect the engine to get about 60 miles per gallon,
curbing gasoline consumption.