Iranian oil refining capacity increases by 18%: OPEC

Oil&Gas Materials 19 July 2011 16:26 (UTC +04:00)

Azerbaijan, Baku, July 19 /Trend D.Khatinoglu/

Iran had the highest refining capacity growth among OPEC members, with an 18 percent increase in 2010.

Iranian refining capacity increased by 18 percent to 1.74 million barrels of oil per thanks to the development of refineries in Abadan, Arak, Tehran, Isfahan, Shiraz,Lavan and Bandar Abbas.

Most foreign giant oil and gas companies have halted their activities in Iran due to international sanctions imposed by UN Security Council and Western countries against Iran as a result of its disputed nuclear activities.

Despite increasing of Iranian oil refiniring capacity, the number of its producing oil wells decreased by 10% to 2,064 and its daily crude oil production fell by 0.4% to 3.544 million barrels.