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Iran Claims World Surplus of Refinery Capacity Will Break Any Gasoline Embargo

[Fars-Iran] Iranian Oil Minister Massoud Mirkazemi said Wednesday that Iran is able to break any embargo on the country's imported gasoline by adding new suppliers. The U.S. is exploring ways of targeting fuel imports into Iran if the country continues to press on with its nuclear program. On Monday, Farid Ameri, managing director of the National Iranian Oil Products Distribution Company, said the current world economic situation made it impossible to cut off gasoline supplies to Iran. "Given the 7% negative growth of the developed countries and the likelihood of the insolvency of many refinery companies, any discussion of imposing an embargo on the supply of gasoline to Iran on the global markets is futile," he said. "There is at present a great surplus of refinery capacity, and, to avoid insolvency, refining companies must produce and sell refined products."
2009-10-09 06:00:00
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