12 June 2015 - 15:49
  • News Code: 242628
Lawmaker Stresses Expanding Refining Sector

TEHRAN June 12(Shana)--As the country is expected to move towards replacing crude oil exports with oil products, building mini refineries is necessary, member of energy committee of parliament Abollah Tamimi said.

Speaking to Shana, he said under the directions of the Economy of Resistance, expanding refining industry is inevitable because it results in boosting production capacity of oil products in the country.  

Building mini oil refineries in the country could boost oil products exports and bring down the share of crude oil in the basket of energy exports on the one hand and could persuade private sector’s participation in implementation of small projects on the other.  

Iran’s private sector launched this week implementation of a refining project called Siraf refining project. The project includes building 8 mini condensate refineries each with production capacity of 60 thousand barrels per day.

Each of the 8 shareholders of Siraf refining project could turn to European companies to meet their financial and technological needs, managing director of Siraf Refining Infrastructure Company Alireza Sadeghabadi told Shana.

Sadeghabadi further noted that the company had decided to rely on domestic potentials for the time being but each of the 8 shareholders of the project is authorized to reach out to foreign companies for advancement of the project.

“Financially, the shareholders could get help from foreigners either as partners or as financiers, he said.

News Code 242628

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