Crude Oil Qualities in Iran

The region typically produces two grades - the National Iranian Oil Co's (NIOC) straight-run 280-CentiStokes (cst), mainly used as feedstock in refineries, and the cracked 380-cst as bunkering fuel (any type of fuel used aboard ships). Iranian cargoes are in high demand in Asia because their low-density, low-water specs allow blenders to extract more value from the oil.

Since 2007, according to the online publication Oil Price, Iran had to import gasoline due to its lack of adequate refineries. As of August 2012, it has been developing its refinery capacity to reduce its dependence on imports. According to the Fars News Agency, oil minister Rostam Qasemi said that Iran plans to turn one million barrels a day of oil into refined products by March 2016.

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