TEHRAN (FNA)- Iranian Deputy Oil Minister Mohammad Reza Moqaddam announced on Wednesday that the country has acquired the necessary know-how to turn its ultra-heavy oil to light oil.
“The technology to lighten the ultra-heavy oil was used in Khuzestan’s oil refinery for the first time in the world,” Moqaddam said, adding that Iran possesses considerable resources of heavy and medium-heavy crude.
Iran, which sits on the world’s second largest reserves of both oil and gas, is facing US sanctions over its civilian nuclear program.
Tehran has dismissed West’s demands as politically tainted and illogical, stressing that sanctions and pressures merely consolidate Iranians’ national resolve to continue the path.
A recently imposed set of extra sanctions by the US and its European allies on gasoline supplies to Iran revealed how anti-Iran sanctions backfire.
Iran used to be a net importer of gasoline until very recently, but after the western powers signaled that they intended to use gasoline supply to Iran as a pressure lever to stop the country’s nuclear progress, Iran started domestic production of gasoline to the world surprise.
Iran increased its gasoline production after the United States and the European Union started approving their own unilateral sanctions against the Islamic Republic over its nucl… >>>