BAKU, Azerbaijan, February 5. Iran’s Bandar Abbas Oil Refining Company in Hormozgan Province in the south of the country has started the construction of three new facilities, on February 4, 2023, Trend reports citing Shana News Agency.
Iranian Oil Minister Javad Owji, Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojasteh Mehr and other officials attended the groundbreaking ceremony.
In total, more than 2.1 billion euros are expected to be spent on the construction of the mentioned 3 facilities.
One of the mentioned facilities is the utility facility that is built to reduce the volume of sulfur and mazut produced in the company. A total of 810 million euros are estimated to be spent on the construction of this unit.
Another facility is for the production of petroleum coke and other petroleum products. With the launch of this facility, 300,000 tons of various oil products will be produced per year. In this regard, a total of 722 million euros are planned to be spent.
Along with all this, the company will also build facility for the production of base oil. It is expected that 600 million euros will be spent on the construction of the mentioned facility.
Iran's Bandar Abbas Oil Refining Company processes 380,000 barrels of crude oil and gas condensate per day. In this regard, the company ranks third among Iranian oil companies. The company produces liquefied petroleum gas (LPG), gasoline, white oil, diesel, mazut, solvent 402, lube cut, sulfur, and other products.
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