Iran to launch Lavan Oil refinery's development project phase 1
Azerbaijan , Baku, April 5 / Trend, A.Yusifzade /
The Head of Lavan Oil Refining Company (LORC), Mohammad Ali Dadvar, said that phase 1 of Lavan Oil refinery development plan will come on stream next month, Shana reported.
Upon the completion of this development project the refinery's capacity will increase and there will be a possibility to produce Euro-5 gasoline and low sulfur gasoil.
"By completion of the development plan of this refinery, the economic profit of LORC will increase", former Managing Director of LORC Hashem Namvar said earlier.
He also referred to the processing costs of crude oil which would decline from the current $4.12 to $1.8 upon the completion of this development project and explained: "Meanwhile, the refining margin of the refinery will be widened from minus $1.4 to plus $1.4."
By implementing the said development plan , the refinery's capacity will boost from 30,000 bpd to 50,000 bpd using 20,000 bpd of South Pars gas condensate.
Lavan Oil Refinery Company engages in oil and hydrocarbon refining. Additionally it produces and processes different oil byproducts. The company is based in Shiraz, Iran. Lavan Oil Refining Company operates as a subsidiary of National Iranian Oil Company.
The managing director of the National Iranian Oil Refining and Distribution Company (NIORDC), Alireza Zeighami said earlier that Iran will export more gasoline along with jumping gasoline production capacity by 28 million liters a day this Iranian calendar year (started March 21 2011).
According to Zeighami, the company would export gasoline by withdrawing it from the stocks due to high level of storage.
'Given boosting gasoline production capacity to 72 million liters per day this year and falling the product consumption to 52 or 53 million liters per day, the surplus would be exported,' Zeighami stressed.
Zeighami said that implementation of ten development, upgrading and improving quality plans are underway at Shahid Toondgouyan (Tehran), Isfhan, Lavan, Tabriz, Abandan, Banddar Abbas and Arak oil refineries with the aim of boosting oil refined production capacity specially gasoline and other high quality products with European specifications.
Zeighami stipulated that Shazand oil refinery's boosting production capacity plan, Abadan oil refinery's gasoline making plan, Tehran oil refinery's development plan and Lavan oil refinery's upgrading plan would come online during the first half of this year and after the completion of development plans at Tabriz, Bandar Abbas up to the end of this year, the country's gasoline production capacity would raise by 28 million liters hitting 72 million liters per day.