Iran to build new refinery, cut gasoline imports
6/21/2016 11:11:26 AM
Over the next four years, Iran plans to increase its crude and condensate refining capacity by more than 70%. The National Iranian Oil Refining and Distribution Co. is planning to build five new plants during that time period.
The company estimates that this would increase production from 1.85 MMbpd to 3.2 MMbpd.
The state-owned refining company is also seeking $14 B from investors to upgrade the five refineries already in operation. Iran hopes that these upgrades will produce cleaner-burning gasoline.
The Isfahan, Tehran, Tabriz, Abadan and Bandar Abbas refineries will all benefit from the upgrades, if investment capital can be obtained.
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