Iran Sets Out Plans For 75% Refining Capacity Hike

Five new plants and $14bn of upgrades would put Iran in the same refining league as Saudi Arabia. But the requisite foreign investment may be slow to arrive.

Iran has prioritized developing five new projects that will raise the country’s liquids processing capacity to 3.27mn b/d from 1.86mn b/d, according to Abbas Kazemi, managing director of state-owned refiner NIORDC.

NIORDC will complete the first of three 120,000 b/d condensate splitters comprising Persian Gulf Star at Bandar Abbas by the end of March 2017, Mr Kazemi says. The five projects being prioritized are expected to cost almost $20bn and are among eight with a combined 2.04mn b/d of capacity which NIORDC plans to build in the long term (MEES, 10 June).

Following Persian Gulf Star, NIORDC will develop the 480,000 b/d Siraf condensate splitters plant at Assaluyeh, the 300,000 b/d Hormuz Extra Heavy refinery at Jask, the 150,000 b/d Anahita refinery near Kermanshah, and the 120,000 b/d Pars condensate splitters plant at Shiraz. (CONTINUED - 738 WORDS)