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Iran is reported to have sold 1.4 million tonnes of bunker fuel to ships passing through the Sea of Oman and the Persian Gulf between the end of March and the end August this year.

According to news agency Shana, a total of $500.2 million in revenue has been earnt from sales of marine fuel during the five-month period.

Iran sold almost 1.33 million tonnes of residual fuel between end-March and end-August compared to 1,098,000 tonnes during the same period last year, representing an increase of 30 percent.

Meanwhile, 64,000 tonnes of marine gas oil was sold in the aforementioned period, which was 78 percent more than last year's figure of 36,000 tonnes.

However, despite the increase in bunker volumes for both residual fuel and distillates, revenue generated decreased in comparison with the $705 million earnt during same period last year when bunker prices were at record levels as a consequence of the surge in crude oil prices with WTI crude peaking at $147.27 per barrel in July 2008.

In total, Iran generated $1.9 billion through bunker sales of 2 million tonnes during the previous calendar year ended 22 March 2009.