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Iran to increase production capacity of oil products in its refineries

Oil&Gas Materials 27 April 2020 13:37 (UTC +04:00)
Iran to increase production capacity of oil products in its refineries

TEHRAN,Iran, April 27

Trend:

Iran is to increase production capacity of oil products in its refineries that include gas condensate in the current Iranian year (started March 20,2020), said the CEO of Tamin Petroleum and Petrochemical Investment Co.(TAPPICO) Mahmoud Makhdoumi, Trend reports citing Fars News Agency.

"The gas condensate production capacity in the South Pars phases is to be increase despite sanctions," said Makhdoumi.

"Meanwhile there is a project to increase the production in Persian Gulf Star Oil Company (PGSOC) up to 540,000 barrels of oil products," he said.

"A total of $90 million has been estimated to be invested in the Persian Gulf Star Oil Company, to be provided by the National Iranian Oil Refining and Distribution Company," he added.

"Considering the crude oil price drop and the coronavirus spread in recent months, the price of oil products and feed has dropped due to fall of demands. This will result in major part of revenues in coming months to decrease," he said.

"The predicted methanol production for the current Iranian year would be 978,000 tons," Makhdoumi said, adding thatthe company' strategy is to pre-sale the export products in the coming months.

"Meanwhile the reservoirs of Iranol Company in Imam Khomeini Port and Pasargad Oil Company in Bandar Abbas Port have been active, and the reconstruction of 600 petrochemical units in Abadan has reached a 90-percent progress," he said.

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