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Three oil refining projects to come on stream in Iran

Business Materials 24 June 2013 10:46 (UTC +04:00)

Azerbaijan, Baku, Jun.24/ Trend F.Karimov/

Three oil refining projects will come on stream in Iran by the end of summer, ISNA quoted Iranian deputy oil minister Alireza Zeighami as saying.

"The projects are being implemented at Tabriz, Isfahan, and Lavan refineries with the iam of producing gasoline meeting the Euro-4 standard, he added.

Zeighami said that Iran will file against European and American companies which have not met their contractual obligations in carrying out petrochemical projects in Iran.

Iranian oil minister Rostam Qasemi Qasemi has said the West's economic restrictions have failed to undermine the Iranian energy sector because domestic contractors overtook Western energy giants.

He also noted that Iran is on its way to become a major exporter of petrol.

The United States Energy Information Administration said on March 28 that Iran sold $69 billion worth of crude oil and condensates in 2012. This figure was $95 billion in 2011. Iran's oil and condensate export decreased from 2.5 mbpd in 2011 to 1.5 mbpd in 2012.

In January, the Moj News Agency quoted the National Iranian Petrochemical Company official Mohammad Ziar as saying that Iran will establish 11 petrochemical townships in Khuzestan and Bushehr provinces, in the south of the country.

Building these townships is projected to boost petrochemical exports.

On January 19, Ziar said that some $8 billion has been invested in revamping refineries in the country.

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