We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Iran earns $5m in gasoline exports, says agency

Despite the country's continued dependence on gas imports, deals with Iraq have helped total number of gasoline exports to rise to 23 per cent of Iran's total exports.


May 15, 2011 3:45 by

Iran exported a batch of domestically-produced gasoline in April to make good on its pledge of becoming a gasoline exporter, the semi-official Mehr new agency quoted an official saying on Sunday.

“In Farvardin (the Iranian month that ends on April 20) 6.1 thousand metric tons of gasoline were exported to other countries,” said Abbas Memarnejad, the head of Iran’s Customs administration.

He said the total value of the consignments in the period exceeded $5 million and formed 23 percent of Iran’s total exports.

Memarnejad did not say what countries the gasoline was exported to. However, last month foreign trade sources said Iran had struck a deal to sell gasoline to Iraq, but that the rare cargo did not mean the Islamic Republic was now free from its dependence on gasoline imports.

Iran launched an Oil Exchange earlier this month and put on sale a consignment of gasoline for export to show what it says is a newly-found self-sufficiency in the fuel.

The Oil Exchange launch came after a rush by the Islamic state in recent months to expand refining capacity to counter economic sanctions, which were tightened last year over the Islamic state’s controversial nuclear programme.

The world’s fifth-biggest crude oil exporter has long depended on imported gasoline for 30 to 40 percent of its consumption, but now says it has become a net exporter.

Some foreign analysts view this rapid transformation with scepticism and believe it would take years not months to build so much new refining capacity.

Iran’s claimed success in gasoline exports comes after the enforcement of a plan to suppress domestic demand for gasoline by cutting state subsidies. Consumption has fallen to around 55 million litres per day from around 63 million, oil ministry officials say. (Writing by Hashem Kalantari; Editing by David Holmes)


Tags: , , , , , ,

Leave a Comment