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Iran working to increase storage capacity for its oil products

Business Materials 28 April 2022 17:50 (UTC +04:00)

TEHRAN, Iran, April 28. Iran is pursuing to increase the storage capacity for its oil products in line with the development of refining projects, said Deputy Oil Minister Jalil Salari, Trend reports citing SHANA.

"It is necessary to increase storage capacity for oil products, as well as build 600-million-liter reservoirs in Shahid Nader Mahdavi oil depot," he said.

He pointed out that Iran is planning to increase export of oil products in the coming months and has exported five diesel and kerosene cargos from March 21 to April 21.

According to the deputy minister, the refining projects will be launched by the build operate transfer (BOT) method, and more agreements will be signed to finance them.

The National Iranian Oil Refining and Distribution Company is also working on knowledge-based projects in the distribution and software sectors and will sign agreements with investors in the coming months.

Iran's Meli Bank has signed an agreement to invest in construction of reservoirs in Shahid Nader Mahdavi oil depot.

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