National Iranian Oil Refining and Distribution Company announced in a report the company has allocated €15b for expanding its refining capacity.
During the 1,460 days that Iran’s oil industry suffered unfair sanctions production and processing of oil in the company was persistently continued and 2.6 billion barrels of various products have been produced, indicated the latest report released by National Iranian Oil Refining and Distribution Company (NIORDC) on Thursday.
The company also announced that there are over 130 projects under running at the moment that would need another $14.3 billion investment to be completed.
Three new refineries, condensate refinery of Persian Gulf Star, and upgrading of 7 working refineries are among the projects to be completed.
It is calculated that at the end of the sixth plan of Iran’s development the refining capacity of Iran’s industry will increase by 1 million barrels a day the country would export its extra gas and diesel production.
Iran's Oil Minister Bijan Namdar Zanganeh had told the media a day earlier that Iranian refineries would have an output of 3.2 million barrels a day at the end of the sixth plan of Iran’s development.