Investment Opportunities of $19b Up for Grabs in Iran’s Refining Industries

SHANA (Tehran) - The National Iranian Oil Refining and Distribution Company (NIORDC) managing director announced on Friday that investment opportunities valued at $19 billion are ready for investors in Iranian refining industries.

Speaking in a press conference on the sidelines of the 28th Iran International Oil, Gas, ‎Refining and ‎Petrochemical Exhibition (Iran Oil Show 2024), Jalil Salari said the largest Izomax unit in the Middle East with a capacity of 42,000 barrels will be operational in the Abadan refinery in the coming two months.

He went on to say that with the launch of the Izomax unit and the completion of the development and stabilization plan, about 3 million liters per day will be added to the diesel output capacity as daily gasoline production of the refinery will rise by 1.5 million liters.

He also announced the inauguration of the desulfurization and gasoline production units of the Shiraz Refinery until September 19, and said “With the launch of these units, 4 million liters of oil and gas and 1.5 million liters of gasoline will be added to the production of the country.”

“The quality improvement plan of Tehran Oil Refinery is also being implemented. By the end of the current [Iranian] year (March 20, 2025), the amount of gasoline produced in the refinery will increase from six million liters to 7.5 million liters per day, and furthermore, the quality of gasoline will be up to Euro 5 which currently is Euro 4.”

Salari also announced the launch of more than 1,100 kilometers of pipelines during this year and noted that with the inauguration of these lines, the daily consumption of 67 million liters of diesel will be saved in the country.

“In addition, 70,000 barrels will be added to the refining capacity of the refining complexes, which will increase the daily production of gasoline and gasoil by 1.6 and 2.5 million liters, respectively.”

He announced the connection of power plants to the national trunkline stating that a 10-percent increase will be registered in rail infrastructure for the development of transportation and improvement of transit conditions.

Diversification of the fuel basket is on the agenda, as by converting methanol to gasoline, 7.5 million liters will be added to the country's gasoline, he said.

In addition to 1,500 Iranian firms, a sum of 250 companies from 12 countries have taken part in Iran Oil Show 2024, whose motto is “Petroleum industry, production leap and technological optimization”.‎

Participants from the upstream, intermediate and downstream sectors of the oil industry, along with associations and unions of oil industry equipment manufacturers, first-time producers NTBFs are showcasing their achievements in the Iran Oil Show 2024, which is the most important Iranian event related to the oil industry.

Inaugurated on Wednesday, the exhibition will be open to visitors at the Tehran International Permanent Fairground every day from 9:00 a.m. to 4:00 p.m. (0530 to 1230 GMT) until Saturday.

News ID 641399


Your Comment

You are replying to: .
0 + 0 =