Drilling Magazine Media Intelligence, Contextual Wisdom
TEHRAN, Feb. 07 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says export of petroleum products is an approach adopted by the Iranian Ministry of Petroleum.
Addressing a ceremony to break grounds for construction of phase II of a project to stabilize and develop Abadan Oil Refinery, southwestern Iran, the official said Iran is currently meeting most of its energy needs by natural gas which would allow raising export of petroleum products.
Zangeneh said the projects will turn the refinery into a profit-making facility while generating jobs for the locals.
Once operational, the project will create 4,000 jobs in its first phase.
The project’s second phase will reduce the fuel oil output of the refinery to a great degree and replace it with lighter products like petrol and gasoil, he said.
Iran’s 6th Development Plan has envisaged the country’s refining capacity at 3 million barrels per day. The capacity will be provided once Persian Gulf Star Refinery (360 kb/d capacity) and Siraf Refining Park (480 kb/d) become operational.
Iran can currently refine 1.7 mb/d of crude oil by its refineries.
Zangeneh further announced that the Iranian Ministry of Petroleum is bent on raising export of petroleum products, adding gasoil and petrol will be the only main liquids consumed in Iran’s energy mix by next year.