Tag Archives | refineries

RIPI Joins Refinery Project in Qeshm

The Research Institute of Petroleum Industry (RIPI) has signed an agreement with a private company to join a refinery project in Qeshm Free Trade Zone. The deal is aimed at cooperating in investing, designing, constructing and commissioning an oil refinery in Qeshm Free Trade Zone. The agreement was signed on Saturday based on which RIPI […]

Iran Launches Major Condensate Project

The Islamic Republic of Iran has launched the second phase of the world’s largest gas condensate refinery in its southern city of Bandar Abbas. The first phase of the project, with 12 million liters per day of gasoline production capacity, came on-line in April 2017. Once fully operational, it will have a processing capacity of […]

S Korea’s Daelim Cancels $2bn Deal with Iran

South Korea’s Daelim Industrial said on Friday that a contract worth 2.23 trillion Korean won ($2.08 billion) for a refinery project in Iran was canceled. The order was canceled as the Isfahan Refinery Upgrading Project failed to procure financing because of economic sanctions imposed on Iran, Daelim said in a regulatory filing, Reuters reported. The […]

Shiraz Refinery plans Euro-5 Gasoil Production

Iran’s Shiraz Refinery has signed a deal with UK’s Honeywell UOP for buying the license and basic design of a unit to produce Euro-5 gasoil, the refinery’s CEO said. UOP is a leading international supplier and technology licensor for the petroleum refining, gas processing, petrochemical production and major manufacturing industries. Rehim Shamsedini, the CEO of […]

Refinery sells Associated Gas

The 9th refinery of the South Pars Gas Complex (SPGC) has signed a contract with an Iranian buyer to sell gas it had previously been flaring. According to the National Iranian Gas Company (NIGC), the deal was signed with the aim of optimizing energy consumption in the refinery and preventing waste of gas and pollution […]

Iran to Launch Major Condensate Project by March

Iran says it is planning to launch the second phase of a major condensate refinery by the end of the current Iranian calendar year which began on March 21. Iranian Minister of Petroleum Bijan Zangeneh told a televised interview that the second phase of Bandar Abbas Gas Condensate Refinery will become operational by March. “Currently, […]

$260m needed to Complete Major Refinery Project

A member of the Iranian parliament says the country will need an investment of 260 million dollars to complete the Bandar Abbas Gas Condensate Refinery. Head of the parliament’s energy committee Fereydoon Hassanvand said with 36,000 ml/d of gasoline production capacity, the project will turn Iran into an exporter of gasoline, generating considerable revenues. “But […]

Germany Exports $2.8bn in Goods to Iran in 9 Mths

The head of the German-Iranian Chamber of Commerce said Germany sold 2.358 billion euros ($2.846 billion) worth of goods to Iran, and imported just $328 million worth of goods from Iran in nine months from January through October 2017. Michael Tockuss, head of Deutscher Industrie- und Handelskammertag (DIHK), added that German exports to Iran grew […]

Sinopec to Upgrade Iran’s Abadan refinery

China’a Sinopec Engineering has announce that the Group has agreed an engineering, procurement and construction (EPC) contract with the National Iranian Oil Engineering and Construction Company in relation to Phase II of the Abadan refinery upgrade. The Group puts the value of the contract at RMB6.858 billion ($1.06 billion). (Source: Sinopec)

Korean Credit Line to Finance Refinery Project

A project to optimize Iran’s Isfahan Refinery will be financed by a South Korean credit line. South Korea will provide €1.9 billion worth of credit for upgrading and optimizing the refinery. Alireza Arman, Consolidated Planning Manager of National Iranian Oil Products Refining and Distribution Company (NIOPDC), said: “A contract for improving process and optimizing Isfahan […]

Domestic Refinery builds Transformer Oil Recycler

Imam Khomeini Oil Refinery has manufactured a transformer oil recycler to separate water and particles from the oil. Ali Jamshidi, managing director of the refinery, said the machine has been constructed with the aim of maximizing utilization of oil used in transformers of the facility. The machine separates moisture and floating particles from oil. It […]

New Refinery to Make Iran Exporter of Gasoline

A new gas condensate refinery constructed in southern Iran by an entity affiliated with the Islamic Revolution Guards Corps (IRGC) will not only help meet the country’s domestic demands for gasoline, but also allow for the export of petroleum, the commander of the IRGC announced. After coming into operation, the ‘Persian Gulf Star’ gas condensate […]

Work Starts to Develop Abadan Oil Refinery

Iran has launched a new project aimed at enhancing the capacity of Abadan Oil Refinery and stabilizing its operation. Located in the southwestern city of Abadan, the refinery will process 360,000 barrels/day of crude oil after the project is complete. Iranian Minister of Petroleum Bijan Zangeneh, attending a ceremony to break grounds for the project, […]

Iran in Talks with Japan to Optimize Oil Refining

Iran is finalizing negotiations with two major Japanese companies to improve the efficiency of Tehran’s aging refineries, an official announced. In an interview with Tasnim, Abbas Kazemi, managing director of the National Iranian Oil Refining and Distribution Company (NIORDC), said Iran has been in talks with Japanese and South Korean companies to optimize oil refining […]

India Invests $5.5bn in Iran to Raise Refinery Capacity

By John Lee. A $5.5 billion investment by the Indian Oil Corporation (IOC) will increase the capacity of the firm’s smallest refinery, co-owned by Iran, to 300,000 barrels per day, according to a report from OilPrice. Reuters reports that the project to renovate Chennai Petroleum Corp.’s Nagapattinam refinery will allow Iran to meet demand for […]

Khomeini Refinery Output beats Expectations

Imam Khomeini Refinery has set a new production record by operating at 15 percent of its production plan. Ali Jamshidi, managing director of the facility, has told Shana that the refinery, located in the central province of Markazi, underwent an overhaul project which took 25 years without any accidents this year. He said the refinery […]

Iran to be Self-Sufficient in Gasoline

Spokesman of Parliament Energy Committee, Assadollah Gharakhani, says once the first phase of Persian Gulf Star Refinery is complete, the country will be self-sufficient in gasoline and will no longer need to import it. Gharakhani told Shana that the refinery will use gas condensate as its feedstock to produce gasoline He said producing high quality […]

5 Gas Refineries to be Overhauled

Five refineries of the South Pars Gas Company (SPGC) are to be overhauled to ensure sustainable gas refining in the winter season. Head of the Overhaul and Renovation Section of the company, Ali-Reza Ali-Rezaie Moqadam, told Shana that reliable gas refining in winter season this year will be possible in light of overhaul of the […]

“Mid-tier” Korean Firm wins huge Deal in Iran?

By John Lee. According to a report from Korea Times, South Korea’s Samwoo Engineering and Construction (E&C) has reportedly “signed a memorandum of agreement (MOA) for a plant construction project worth 5 billion euro.” The project is a petroleum refining facility at Zilaee, led by Masjed-Soleyman Petrochemical Industries, which is owned by Iran’s national pension […]

Daelim signs $2bn MoU for Isfahan Refinery

The Managing director of Isfahan Oil Refinery said the facility has signed a memorandum of understanding (MoU) with South Korea’s Daelim for improving production procedures and optimizing the facility. Lotfali Chavoshi said on Monday that the process improvement and optimization plan of the refinery will bring the facility to its golden days. He said the […]