Middle East Economic Survey

VOL. LI

No 47

24-Nov-2008

IRAN

Iran Needs Extra $4-5Bn To Cover Fuel Imports

Irans Deputy Petroleum Minister for Planning Akbar Torkan told Reuters on 18 November that, despite the drastic fall of international oil prices from $147/B to $56/B in mid-November, the country would still require an additional $4-5bn to cover its fuel imports bill. Despite the relative success of a fuel rationing system imposed in June 2007, the need for expansion of Irans refining capacity...