09 April 2014
Iran will raise gas condensate processing capacity by establishing eight small refineries to prevent the sale of crude oil and natural gas, said the oil minister.Addressing a gathering of private sector oil managers in Tehran, Bijan Namdar Zanganeh also said the details of this project will be announced by May 21, IRNA reported.Referring to the significant role of private sector in achieving the target, Zanganeh said to make the utmost use of domestic potentials and the private sector's capacities, the Oil Ministry intends to establish eight refineries--each with a production capacity of 60,000 barrels per day in Pars Special Economic Energy Zone in Bushehr province.He added that more than 400,000 hectares of land have been allocated to the project.
"By launching the refineries and completing the construction of Persian Gulf Star Refinery, Iran will be able to turn 1 million barrels of gas liquids into value-added products domestically," he said.Zanganeh said the Oil Ministry will use the resources of National Development Fund (NDF) to complete major oil projects."Currently, there are restrictions on using NDF resources such as lack of easy access to funds. Therefore, after receiving Iranian revenues for oil sold to countries, including China, and by increasing crude oil exports, NDF's monetary resources will grow," he said. "Although no substantial change has occurred yet in Iran's foreign policy, oil industry conditions are improving by the day."He stressed that in the next four years, Iran will increase the production capacity of crude oil and gas liquids to 5.5 million barrels per day, which would be unprecedented in the history of the country's oil industry."However, we should not forget that to achieve this, the private and public sectors will need to make huge efforts and the government should allocate sufficient monetary resources," he said.
The minister noted that the Resistance Economy policies notified by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei express the ideals of the oil industry and will help the Oil Ministry fulfill its responsibilities. Zanganeh listed the policies as accelerating the development of joint fields, increasing the production capacity of petrochemical sector, raising the exports of gas and oil byproducts, optimizing fuel consumption, diversifying products and guaranteeing sustainable exports.
Iran will raise gas condensate processing capacity by establishing eight small refineries to prevent the sale of crude oil and natural gas, said the oil minister.Addressing a gathering of private sector oil managers in Tehran, Bijan Namdar Zanganeh also said the details of this project will be announced by May 21, IRNA reported.Referring to the significant role of private sector in achieving the target, Zanganeh said to make the utmost use of domestic potentials and the private sector's capacities, the Oil Ministry intends to establish eight refineries--each with a production capacity of 60,000 barrels per day in Pars Special Economic Energy Zone in Bushehr province.He added that more than 400,000 hectares of land have been allocated to the project.
"By launching the refineries and completing the construction of Persian Gulf Star Refinery, Iran will be able to turn 1 million barrels of gas liquids into value-added products domestically," he said.Zanganeh said the Oil Ministry will use the resources of National Development Fund (NDF) to complete major oil projects."Currently, there are restrictions on using NDF resources such as lack of easy access to funds. Therefore, after receiving Iranian revenues for oil sold to countries, including China, and by increasing crude oil exports, NDF's monetary resources will grow," he said. "Although no substantial change has occurred yet in Iran's foreign policy, oil industry conditions are improving by the day."He stressed that in the next four years, Iran will increase the production capacity of crude oil and gas liquids to 5.5 million barrels per day, which would be unprecedented in the history of the country's oil industry."However, we should not forget that to achieve this, the private and public sectors will need to make huge efforts and the government should allocate sufficient monetary resources," he said.
The minister noted that the Resistance Economy policies notified by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei express the ideals of the oil industry and will help the Oil Ministry fulfill its responsibilities. Zanganeh listed the policies as accelerating the development of joint fields, increasing the production capacity of petrochemical sector, raising the exports of gas and oil byproducts, optimizing fuel consumption, diversifying products and guaranteeing sustainable exports.
© Iran Daily 2014
