Deputy Minister: Iran to Increase Capacity of Petro-Refineries by 30%

The oil ministry has plans to construct petroleum refineries via which the country’s oil refining capacity will increase to 30% after constructing them, rising from the current 2.3 million oil barrels to 3 million barrels, Falahatian said.   

The necessary licenses have recently been issued for the construction of the petroleum refineries, he added.

Falahatian also referred to the construction operation of Shahid Soleimani petro-refinery, and said it will be constructed in Bandar Abbas in the near future with a production capacity of 300,000 barrels of oil per day.

“Creating capacity and completing the value chain in the oil industry is one of the most important priorities of the oil ministry with the aim of preventing crude sales and creating added value for the country,” he underlined.

International energy companies predict that the demand for petrochemical products will increase significantly in the coming years, and therefore the development of petro-refineries seems a necessity in Iran.

Due to the country's benefit from oil and gas resources, the development of petro-refineries is much easier and relatively cheaper in Iran than other countries in the world, and the country can play a role in regulating the price of petrochemical products in the world due to its proximity to energy sources and its capacity for the development of petro-refinery.

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