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Establishment of first Iranian-built oil refinery to start soon

MENAFN - - 04/07/2012


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(MENAFN) The National Iranian Oil Engineering and Construction Company's managing director, Farhad Ahmadi, announced that within the coming 2 months, the country will start constructing the first all-Iranian oil refinery, reported Tehran Times.

Ahmadi said that the refinery, which will have a daily output capacity of 120,000 barrels of gas condensates, will see the investment of around USD1.51 billion.

On the other hand, Iranian Deputy Oil Minister, Alireza Zeighami, stated that nearly USD25 billion will be used to develop new oil refining capacity in the country.

It is worth noting that the Islamic Republic is developing the Pars condensate refinery in Shiraz, the Persian Gulf Star refinery, the Anahita refinery in Kermanshah, the Shahriyar refinery in Tabriz and the Hormoz refinery in Bandar Abbas.

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