Iran signed its fourth post-sanctions refining agreement this week – a memorandum of understanding for a $20mn study for upgrading Tabriz refinery. State refiner NIORDC is also looking to bigger projects, announcing plans to seek international funding for its $3.3bn Siraf condensate splitters project.

NIORDC affiliate Parsian Oil and Gas Development Company (POGDC), which operates the 110,000 b/d Tabriz and 58,000 b/d Shiraz refineries as well as a number of petrochemicals plants, signed an MoU with Korea’s SK Engineering and Construction for a feasibility study for an increase gasoline and diesel output from Tabriz at the expense of fuel oil. No schedule was announced, but the study is expected to take six months, according to Mehr News Agency. (CONTINUED - 620 WORDS)