Iran General NewsIran boasts oil refining capacity

Iran boasts oil refining capacity

-

ImageUPI: Iran is scheduled to become the most prolific oil refiner in the region within four years, eclipsing Saudi Arabia, energy officials said.

United Press International

ImageTEHRAN, Sept. 17 (UPI) — Iran is scheduled to become the most prolific oil refiner in the region within four years, eclipsing Saudi Arabia, energy officials said.

Aminollah Eskandari, a director of the National Iranian Oil Refining and Distribution Co., told reporters the refining capacity in Iran would reach 3.3 million barrels per day by 2012, the Islamic Republic News Agency reported Wednesday. Saudi Arabian capacity stands at 2.1 million barrels per day.

Eskandari said Iran is ranked first among Persian Gulf states in investments in refinery, with nearly $22 billion slated for seven new refineries.

"Given the economic growth of big consumers such as India and China, oil-producing countries have made huge investments in oil refining," he said.

He noted the Iranian refining capacity will double once the new refineries come online.

The current refining capacity for Iran is roughly 1.75 million barrels per day.

Latest news

Iran’s Government Has Failed Today and Is Losing Tomorrow

After months of a break and expectation for the sixth round of Iran’s nuclear negotiation with world powers, finally...

Iran’s Government Must Blame Itself for the State of Economy

Following the five-day talks in Vienna last week that turned out to be fruitless in agreeing on the future...

New Blow to Iran’s Government, Iraq Seeks To Remove It From Its Energy Market

Iraq is facing many problems due to the continuation of international sanctions against the Iranian government and is seeking...

Daily Protests in Iran Are Developing Into a ‘Dangerous Situation’ for the Iranian Regime

Due to the Iranian regime’s mismanagement of the economy, their rampant corruption, and their brutal oppression of society, protests...

Huge but Hidden Corruption

The chairman of Iran’s Privatization Organization Hossein Ghorbanzadeh previously said that about 525,000 properties have been registered in the...

Iran Government’s Quagmire in the Nuclear Negotiations

After the first round of Iran’s nuclear negotiations with world powers, known as the JCPOA, Ali Bagheri, the Iranian...

Must read

Japan is asked to insure Iran oil shipments as EU sanctions bite

Bloomberg: Japan’s government may insure tankers carrying Iranian oil,...

Pirates set demands for Iran-chartered ship

Reuters: Somali pirates have set demands for releasing a...

You might also likeRELATED
Recommended to you