Projects to develop 4 refineries complete by year end: Dep. oil min.

Iran Deputy Oil Minister Alireza Zeighami says the country will finish projects to develop production capacity of four refineries by the end of the current Iranian calendar year (March 20, 2014).

Zeighami, who is also the managing director of National Iranian Oil Refining and Distribution Company (NIORDC), said on Thursday that the implementation of the projects would increase the gasoline output at the Isfahan refinery by 4.1 million liters per day.

According to the Iranian official, gasoline production at Tabriz refinery would also increase by 1.1 million liters per day, while daily gasoline output of the Lavan refinery would rise by 1.6 million liters and that of Bandar Abbas refinery would increase by 3.1 million liters when the projects become operational.

He added that overall gasoline production in Iran would reach 70 million liters per day by the end of the current Iranian calendar year.

“Prior to the launch of the refinery projects, the production of base gasoline in the country stood at 44 million liters a day, which now stands at 61.4 million liters per day,” the Iranian official said.

He added that a daily average of 1.85 million barrels of crude oil is currently being sent to refineries across Iran to be turned into various products.

Iran attained self-sufficiency in fuel production after its international suppliers stopped selling gasoline to Tehran under US pressure.

At the beginning of 2012, the United States and the European Union (EU) imposed new sanctions on Iran’s oil and financial sectors.

The sanctions, which prevent the EU member states from purchasing Iran’s oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1, 2012.

The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegation, arguing that as a committed signatory to Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.

By Press TV


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