BAKU, Azerbaijan, April 28. The refining capacity of Iran's Kermanshah Oil Refining Company will increase to 75,000 barrels per day over the next three years, the CEO of the company Farhad Kaviani said, Trend reports citing the National Iranian Oil Refining and Distribution Company’s website.
At present, the company's oil refining capacity is 25,000 barrels per day, the official said.
He also added that a total of $930 million will be spent to increase the company’s refining capacity and as a result, a threefold increase will be recorded.
According to Kaviani, in this regard, a new plant with a refining capacity of 50,000 barrels of crude oil per day will be built near the company's current plant. The new plant will produce gasoline in accordance with the Euro 5 standard, which will contain only about 2 percent of mazut.
Kaviani noted that the needed funds for the construction of the new plant will be allocated by the National Development Fund of Iran.
The CEO also pointed out that the Iranian Oil Ministry has asked all oil refining companies to submit their plans to prevent the sale of oil in crude. The goal is to increase the country's oil refining capacity from 1.8 million barrels per day to 2.5 million barrels per day.
“In addition, $80 million will be spent to reduce the amount of sulfur in products of the company's existing plant,” he stressed.
In general, Iran's Kermanshah Oil Refinery produces liquefied petroleum gas (LPG), gasoline, white oil, diesel, mazut and etc.
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