14 January 2022 - 19:29
  • News Code: 451816
Refining Capacity of Hormozgan to hit 1.55 mbd

TEHRAN (NIPNA) – Iranian Minister of Petroleum Javad Owji said that the refining capacity of the southern province of Hormozgan was planned to reach 1.55 million barrels per day.

During a trip to Qeshm Island after visiting Pars Behin Palayesh Naft Qeshm Company, Mr. Owji told reporters: “The first super heavy crude oil refinery (Pars Behin Palayesh Naft Qeshm Company) is fed by heavy crude oil from Soroush and Nowruz fields, and the refinery was built with $220 million by the private sector.”

He stated that the Ministry of Petroleum regards Hormozgan Province as the oil refining hub of the country, adding once Pars Behin Qeshm oil refining project comes online, 850,000 barrels of refining capacity will be made available in Hormozgan, 37% of the country's total oil refining capacity.”

The Minister of Petroleum stated: “With the launch of the second phase of Pars Behin Qeshm Refinery for processing gas condensate with an investment of $400 million, the ground will be set for transformation of the region within the next three years.”

Owji added that the refining capacity of Hormozgan Province is on the agenda with four refinery projects with zero to 35% progress, and the refining capacity of the province will increase from 850,000 barrels of crude oil per day to 1,550,000 barrels per day.

He noted: “The Ministry of Petroleum supports all investors to bankroll oil and gas projects, especially in the Qeshm Island region, and guarantees feedstock supply for implementation of refining projects.”

The Minister of Petroleum also said: "By increasing the country's refining capacity, economy of resilience and preventing sale of crude oil and gas will be achieved. By launching these projects, the country's refining output will also increase, generating good revenue and employment."

Referring to the social responsibility of the Ministry of Petroleum in the region, Owji said: "We had good achievements for Hormozgan Province and Qeshm Island.”

Mr. Owji arrived in Hormozgan Province and Qeshm Island on Thursday morning during the fourteenth provincial trip of President Seyyed Ebrahim Raisi.

Pars Behin Palayesh Naft Qeshm Company is one of Iran's largest Bitumen refineries and a subsidiary of Pasargad Energy Development Company and is located in Qeshm Island Free Zone, at the Persian Gulf, Hormozgan Province.

News Code 451816

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