26 June 2019 - 16:38
  • News Code: 290349
Iran Oil Refining Capacity to Reach 2.4 mbd by March

TEHRAN (Shana) -- Plans are under way to bring Iran’s oil refining capacity to 2.4 million barrels per day by the end of the current Iranian calendar year to March 20, 2020.

Alireza Sadiqabadi, the CEO of the National Iranian Oil Refining and Distribution Company (NIORDC), said the country’s crude oil and gas condensate refining capacity currently stood at 2.15 million barrels per day.

According to NIORDC, the official said the refining capacity of the country stood at 1.55 mbd in 2017 while it was currently at 2.15 mbd which was still growing and would reach 2.4 mbd by the end of the current calendar year.

“Given our planning, 850,000 barrels of the oil and gas condensate which were banned from entering international markets were consumed domestically,” he added.

The official said that such policies were being used to counter the impact of the US sanctions on Iran’s oil industry.

News Code 290349

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