Hailing the project implementation as a record, the president commemorated the Oil Industry Nationalization Day, saying the inauguration ceremony was held on a day the Iranian people expelled the British to develop the oil industry by employing domestic experts and workforce.

Americans and the British are under the delusion that important and complicated jobs can be done only by them, Raeisi said and added, “But today, we are witnessing the priceless manifestation of “we want, we know, and we can” of the Iranian people.”

He said 34 percent of the project – the most difficult part – was carried out by Iranian managers, experts, and workers in a year, reiterating that it is regarded as a record.

The launch of Abadan petro-refinery will help the country’s daily gasoline and diesel production capacities increase by four million liters and five million liters respectively.

Transborder projects

Pointing to Oil Minister Javad Owji’s remarks on construction of refineries beyond Iran’s borders, namely Venezuela, Raeisi said, “Iranian experts were dispatched to Venezuela to revive its oil industry, revealing that our country has the capacity to export its technical know-how to the world’s oil-rich countries.”

Progress despite sanctions

The president said those sectors that have experienced more sanctions have made greater progress.

He added the enemy is now wondering how the country’s sanctions-hit oil sector has succeeded in setting up a giant refinery.

Production

Based on the refining project, the largest in Iran and one of the largest in the Middle East, the new phase will produce 210,000 barrels per day (bpd) and increase Abadan Refinery’s daily production to 630,000 barrels.

The new plant’s oil products will include 1.5 percent LPG, 22 percent kerosene and fuel jet, 21 percent gasoline, and 24 percent gas oil, while production of furnace oil in Abadan Refinery will be sharply reduced.

The managing director of Abadan Refinery said the newly-inaugurated plant will increase daily gasoline production to 14 million liters from 10 million liters and gas oil output to 20 million liters from 16 million liters per day.

Hakim Ghayyem added the all-Iranian industrial unit will help produce 30 percent of high-quality gasoline of the country.