Abadan Oil Refinery the Main Contributor to Removing Imbalances

SHANA (Tehran) - Managing director of Abadan oil refinery Hakim Ghayem, reported of 317 million dollars profit during the last Iranian calendar year due to acceptable performance of the refinery.

Speaking with Shana, Ghayem said that this amount of profit is expected to rise by an additional 15 to 20 percent over the current Iranian calendar year which comes to an end on 19 March 2025.

Meanwhile the second phase of the refinery’s development plan is going to be implemented over the coming weeks after providing financial needs of the plan, Abadan oil refinery CEO noted.

He added: Following the 13th administration taking office in August 2021 and its helpful initiatives, Abadan oil refinery was changed into a profitable oil refinery with equivalent to 425 million dollars of profit, indicating false information that introduces the oil refinery as loss-making is incorrect.

When the 13th administration took office, Abadan oil refinery was producing 8.8 million liters of gasoline on a daily basis which rose at the end of last year, March 2024, to 15 million liters per day; implying its gasoline production doubled amid playing a significant role in removing energy imbalances in the country, according to Ghayem.

Elsewhere in his remarks he said: Regarding gasoil production, it should be said that based on an initiative taken by the Petroleum Ministry, during the cold days of winter when natural gas consumption goes up, gasoil consumption replaced fuel oil as the main source of fuel at power plants so that power plants’ gasoil consumption hit 3 billion liters last year of which 2 billion liters were provided by Abadan oil refinery.

Thanks God, Abadan oil refinery succeeded in making up for two thirds of energy imbalances in this sector, which not only helped to meet domestic needs but also made fuel imports unnecessary amid preventing foreign exchange outflow.

He concluded that he hopes by completion of the second phase of development plan of the refinery, another 3 to 4 million liters of gasoil be added to current level of production so that it leads to better management of imbalances.

News ID 641011


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