Iran allocates $100 million for expanding Lavan refinery

Oil&Gas Materials 1 October 2012 12:39 (UTC +04:00)

Azerbaijan, Baku, Oct.1/ Trend F.Milad

Some $100 million has been allocated to the expansion plan at the Lavan Refinery located in Iran's southern Hormozgan province, said the managing director of Lavan Oil Refining Company.

Mohammad-Ali Dadvar added that the sum is 10 per cent of the total budget which is required to complete the expansion plan, the IRNA reported.

The refinery's daily crude oil refining capacity is planned to be increased to 50,000 barrels per day from 30,000 barrels per day.

It will also increase its gasoline output from 1.4 million litres per day to 2.8 million litres and its natural gas production from 80 tons per day to 220 tons per day by the end of autumn.

On September 21, Dadvar told the IRNA news agency that the refinery will start producing one million litres of jet fuel per day within the next two months.

The gasoline production unit at the refinery will boost output by 1.3 million litres to 2.8 million litres by the end of the autumn, he added.