19 December 2022 - 10:59
  • News Code: 466131
Good Things Happen in Iran Refineries: Min.

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the 13th administration has initiated sizable movements in the country's refining industry including quality improvement in Abadan Refinery and all the refineries across the country.

According to ICANA, Javad Owji spoke about the quality improvement of the Iranian refineries: “Fortunately, good things have happened regarding the quality improvement of the refineries in the 13th administration to the point that the quality improvement of the Isfahan Refinery has reached the operational stage and we will soon put this project into operation in the presence of the President so that 15 million liters per day of Euro5 gasoil will be added to the country's diesel production capacity.”

Regarding the country's need to invest in the oil and gas sector, he added: “To date, we have signed nearly $100 billion worth of MoUs and contracts in the upstream and downstream sectors of oil and gas for domestic and foreign investment, of which $20 billion are contracts, although according to estimates, we need nearly $250 billion of investment.”

The Minister of Petroleum said: “Although some of these investments were made by foreign companies, we also tap the capacity of domestic companies and banks. For example, 7 domestic banks have joined the development of the massive Azadegan field and we have invited domestic economic heavyweights to join us in the project, too.”

News Code 466131

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