Iran’s Lavan refinery to export 25 per cent of products

Azerbaijan, Baku, Jun.17/ Trend R.Zamanov

Iran's Lavan refinery will export 25 per cent of its products, the managing director of the Lavan Oil Refinery Company (LORC) Mohammad-Ali Dadvar said on Tuesday.

"Some 75 per cent of Lavan refinery's output will be consumed domestically and the rest will be exported," the IRIB News Agency quoted Dadvar as saying.

"Mazut and liquefied gas would be the exported items," he said.

"The refinery currently produces 1,080,000 litres of gasoline, 1.7 million litres of mazut and 30 tons of liquefied gas per day," Dadvar explained.

"Once all the current projects come on stream, the figures would reach 2.8 million litres, four million litres and 100 tons respectively," he added.

Davar further went on note that by using 20,000 barrels of gas condensates, the refinery's refining capacity will reach 60,000 barrels per day from the current figure of 30,000.

Iran has increased oil refining capacity at the Lavan petrochemical facility by 10,000 barrels per day in an effort to counter US sanctions and export petrochemical products instead of crude oil, the Mehr News agency reported last week.

A crash plan was launched last month which led to a 10,000 barrels per day increase in the production of gasoline, diesel fuel and naphtha per day.

Iran's oil refining capacity is currently about 1.85 million barrels per day.

The Obama administration has blacklisted the Iranian petrochemical companies, Iran's automotive industry, more than 50 Iranian officials and has threatened to penalise foreign banks that trade or hold Iran's national currency namely the rial.

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