China likely to finance Iranian oil refinery project
Baku, Azerbaijan, March 14
By Khalid Kazimov – Trend:
An Iranian oil official has expressed hope that the deal on the refinery project in the southwestern country with China will be finalized over the coming two weeks.
The head of National Iranian Oil Engineering and Construction Company, Hamid Sharif-Razi, has said that the deal for financing the second phase of Abadan refinery between Central Bank of Iran and China is expected to be signed by the end of the current fiscal year (March 21), ISNA news agency reported.
In case the sides ink the deal, China will finance the 2.7 billion euro project, he added.
Iran plans to construct a new refinery in Abadan with a capacity for refining 210,000 barrels.
Iran’s overall crude output has reached about 3.8 million barrels per day and the country currently exports about 2.6 million barrels of crude and condensate.