BAKU, Azerbaijan, May 11. Iran's National Oil Refining and Distribution Company (niordc) currently has investment opportunities worth $19 billion, Iran's deputy oil minister and executive director of the National Oil Refining and Distribution Company, Jalil Salari said, Trend reports.
He made the remark during the 23rd International Exhibition of Oil, Gas, Refining, and Petrochemicals in Tehran.
He suggests spending $14.5 billion on quality improvement projects at existing refineries, $1.2 billion on pipeline projects, and $255 million on the construction of storage facilities out of this investment.
Salari noted that if the stated amount is invested, 32 million liters per day will be added to the country's gasoline production, while diesel production will be 16 million liters per day.
He stated that in the current Iranian year (from March 20, 2024, through March 20, 2025), with the commissioning of the 3rd plant of Abadan Oil Refining Company, the gasoline production potential will increase by 1.5 million liters and the diesel production potential by 3 million liters.
The official added that with the commissioning of another Shiraz Oil Refining Company plant in the current year, gasoline production will increase by 1.5 million liters per day and diesel fuel production will increase by 4 million liters per day.
Salari emphasized that with the commissioning of another refinery by Tehran Oil Refining Company, the company's gasoline production will increase from 6 million liters to 7.5 liters per day.
To note, the 4-day 23rd International Oil, Gas, Refining, and Petrochemicals Exhibition kicked off in Tehran on May 8. 1,700 domestic companies and 250 foreign companies are present at the exhibition.
Iran's 10 refineries currently process 2,286,000 barrels of crude oil and gas condensate daily.
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