Iran's Bandar Abbas Oil Refining Company adding more storage facilities
BAKU, Azerbaijan, May 12
By Elnur Baghishov - Trend:
The construction of 6 new gasoline and diesel storage facilities has begun at Bandar Abbas Oil Refining Company of Hormozgan province in southern Iran, Trend reports citing the company’s official website.
Speaking at the event dedicated to the start of construction of storage facilities, the CEO of Bandar Abbas Oil Refining Company Hashem Namvar said that 2 of these storages are for gasoline and 4 for diesel.
According to Namvar, the capacity of each storage facility will be 250,000 barrels.
"With the commissioning of storage facilities, the storage capacity of oil products at the company’s complex will increase by 1.5 million barrels, and help speed up filling time," he said.
The official said that the storage facilities will be built in 18 months, through investments worth 2.2 trillion rials (about $52.3 million) and 802,000 euros.
The plant of Iran's Bandar Abbas Oil Refining Company processes 350,000 barrels of crude oil and gas condensate per day.