TEHRAN, July 28 (UPI) -- Becoming self-sufficient in gasoline production would reduce the impact of foreign pressure on Iran, the Iranian oil minister said Wednesday.
The European Union this week approved new sanctions on Iran that target the financial and energy sector out of concern for Iran's controversial nuclear work. The measure follows a similar move by Washington to restrict foreign activity in the Iranian oil and gas sector.
Iranian Oil Minister Masoud Mir Kazemi said his country plans to produce as much as 45 million gallons of gasoline per day by 2014. Consumption, meanwhile, would drop to less than 17 million gallons per day, meaning Iran could become a net exporter of gasoline, the Oil Ministry's Petroenergy Information Network reports.
The minister added that by becoming self-sufficient in gasoline and other hydrocarbons, foreign powers would no longer be able to put pressure on Tehran.
Iran announced plans to expand its refining capacity in the midst of increased economic pressure. Iran has some of the largest reserves of oil and gas in the world but relies on imports to meet some of its energy needs.
Iran restricts gasoline consumption in order to compensate for sanctions and the lack of refining capacity.
The minister this week announced that Iran would launch a "smart card" system for fuel in order to analyze gasoline consumption by Iranian drivers.
