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$2.5b refinery will be configured

$2.5b refinery will be configured
Sixty-five per cent of the capacity at the new $2.5 billion refinery, in southern Iran, will be configured to produce petrol, with diesel and kerosene making up the rest.

Sixty-five per cent of the capacity at the new $2.5 billion refinery, in southern Iran, will be configured to produce petrol, with diesel and kerosene making up the rest.

Iran expects to complete the construction of a new 360,000 barrel per day (bpd) condensate refinery in the second half of 2010. Sixty-five per cent of the capacity at the new $2.5 billion refinery, in southern Iran, will be configured to produce petrol, with diesel and kerosene making up the rest. "The production of petrol at this refinery will help Iran reduce its reliance on petrol imports, and should satisfy our domestic consumption requirements".

Iran's petrol consumption level for the year was pegged at about 45 million litres per day (283,000 bpd), the source said.

"The new refinery will produce up to 40m litres of petrol (251,000 bpd) and around 20m litres (125,799 bpd) of middle distillates daily.

Iran lacks refining capacity and must import huge amounts of costly petrol to meet its needs, a sensitive issue as the West seeks ways to put pressure on Tehran over its nuclear programme.

Tehran pays international prices for the fuel but subsidies at the pump ensure its petrol is among the cheapest in the world.

Iran's petrol production levels are expected to hit about 90m litres per day by the end of next year, with secondary unit additions to at least five of its refineries expected to contribute around 5m litres per day.

The new petrol production volumes are expected by the first quarter of 2010, with most of the work for the secondary refining units set to be completed by the end of next year. "We are currently adding new processing units at existing refiners to meet this target. The work is ongoing."

Additional petrol production should hit about 30m litres per day with the start up of these new secondary unit additions and upgrades by the first half of 2010.

"These new additions and the start-up of the condensate refinery will allow us to meet our domestic demand, and possibly allow us to export surplus product".

www.TurkishMaritime.com.tr

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