Iran cuts petrol imports to save nearly $3 billion

LONDON, Sept 25 (Reuters) - OPEC's second largest producer Iran is making a drastic cut in gasoline imports through rationing and expects to save nearly $3 billion in this Iranian year, a top Iranian oil official said on Tuesday.

The Islamic Republic aims to slash petrol purchases to 15 million litres per day (94,000 barrels per day) over the next six months -- nearly 60 percent below the rate before rationing started in June, when Tehran imported 36 million litres a day.

"We are buying tremendously less in the market than before rationing was imposed in June," Hojjatollah Ghanimifard, international affairs director of the state-owned National Iranian Oil Company (NIOC), told Reuters.

"With this lower amount of imports, we expect to save about $3 billion over the whole year."

The world's fourth largest oil exporter lacks refining capacity and must import large amounts of gasoline to cover its needs -- a sensitive issue as the West considers tougher sanctions against Tehran over its nuclear work.

The effects of rationing already are in evidence, with Tehran saving about $950 million during the first half of the Iranian year (from March 22-Sept. 22).

During that period, the Islamic Republic's imports of gasoline averaged 25 million litres per day. The next six months will be even lower.

"Our import target for the second half of the Iranian year is a maximum 15 million litres/day," said Ghanimifard.

Iran's gasoline import requirements are 15 million litres/day for this month and 14 million litres/day in October, he said.