Iran plans to inaugurate a new gasoline production unit
Iran plans to inaugurate a new gasoline production unit at Abadan refinery, Southwestern Iran, to increase the country's daily gasoline production capacity.
The gasoline production unit of Abadan oil refinery will be inaugurated in the next few days. The unit was completed at the cost of US $1 billion and would add over one million barrels to the country's daily gasoline production capacity.
According to the report, Iran is also due to open the Middle East's largest oil refinery, Shazand, in the central Iranian city of Arak in the next few days.
Once the first phase of the US $3.5 billion Shazand oil refinery comes on stream, some 2 million barrels per day would be added to the country's gasoline production capacity. Subsequently, following the completion of the remaining development phases under the refinery project, the nation's gasoline production capacity would be raised by 16 million barrels per day.
The new development plans for the oil refinery industry are focused on reduction of sulfur and other pollutants in order to produce Euro-5 norms-compliant petrol for cars, the report said.
In addition, the plant will produce propane, also known as propylene, which is a waste product created when crude oil is refined into gasoline, diesel and other products.
Earlier in October, an Iranian oil official announced that the country can still boost its gasoline production capacity by activating the potential production lines existing in different parts of the country.
Iran increased its gasoline production after the United States and the European Union started approving their own unilateral sanctions against the Islamic Republic over its nuclear program, mostly targeting the country's energy and banking sectors, including a US boycott of gasoline supplies to Iran.
Iran plans to build seven new oil refineries in next three years to increase gasoline production capacity to 110.7 million liters per day.
According to NIORDC projections, Iran will be an oil products exporter in 2014.