Speaking to reporters on the sideline of the first anniversary of targeting subsidies on Tuesday, Mr. Qasemi noted that various contracts had been signed with private sector on development of shared fields.

The minister went on to say that financial needs of petroleum ministry’s upcoming projects would be met through domestic resources, banks and financial and credit institutions.

Responding to a question on oil products swaps stop, petroleum ministry’s top official said: this kind of trade has not been stopped but the volume is lower in comparison to the past.

‘Crude oil and oil products swaps are underway as usual but we are more concentrated on crude oil swaps because part of imported oil from Central Asian countries being used as feedstock by our refineries in the northern and centeral parts of Iran including Tabriz and Shazand oil refineries’, Qasemi told reporters. 

On gasoline and other oil products smuggling, Qasemi said that smuggling had fallen considerably.

According to Qasemi remarks, daily gasoline and CNG consumption averages 60 million liters and 20 million cubic meters respectively while CNG makes up for additional demand for gasoline.