BAKU, Azerbaijan, January 27. Iran’s Persian Gulf Mehr Oil Refining Company’s refinery in Bandar Abbas County of Hormozgan Province, southern Iran, will start operating by the end of the next Iranian year (March 20, 2024 March 20, 2025), said Iranian Oil Minister Javad Owji, Trend reports.
According to him, there is a 60-percent physical progress on the construction of oil refinery.
Owji stated that the state budget for the current Iranian year (March 21, 2023 through March 19, 2024) has allocated $500 million from the export of crude oil for the construction of this refinery. He also said that 40-50 percent of those funds had already been used for construction.
The mentioned refinery will produce various oil products, including 6.17 billion liters of naphtha, 4.4 billion liters of gasoline, 1 billion liters of diesel, and 322 million liters of white oil annually.
Currently, 2.28 million barrels of crude oil and gas condensate are processed by Iran’s 10 oil refineries per day.
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