Iran Looks To Tap Foreign Investment In Bid To Advance Downstream Plans

Iran is building two condensate plants and has dusted off plans for a refinery as it seeks western technology and capital once sanctions are lifted.

Iran’s Ministry of Petroleum has announced the start of civil works on the long-planned 150,000 b/d Anahita refinery in the western Kermanshah province. The ministry’s Shana news agency says the delayed project has been put back on the agenda by President Hassan Rohani’s government, with the aim of increasing sales of value-added products at the expense of crude while boosting local supplies.

Given the two major condensate splitters already being undertaken by the National Iranian Refining and Distribution Company (NIORDC) – 480,000 b/d Siraf and 360,000 b/d Persian Gulf Star – at an estimated combined cost of $7.1bn, and the government’s restricted cash flow because of sanctions, development of Anahita is unlikely to be speedy as things stand.


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