Friday, June 21, 2024

Iran launches major development phase at Abadan refinery

Iran has launched the first section of the second phases of a major project for development and stabilization of capacity at its Abadan refinery in the country's south.

The project was launched at the presence of President Ebrahim Raisi on the 72nd anniversary of the nationalization of oil industry in 1951.

President Raisi told the ceremony that the day is a historical one as it marked cutting foreign hands off the oil industry.

He stressed that Iranians proved that they can be independent in the oil sector and do not need foreigners in the field.

Oil Minister Javad Owji also said that the launching of the project marks Iran’s “self-sufficiency” in construction of both gas and oil refineries.

The development project of Abadan refinery is one of the largest projects of its kind in West Asia region.

The section launched on Monday raises the refinery’s output by 50 percent to 630 million barrels of products a day.

This includes an additional four million liters of gasoline and the same increase in diesel production.

Among the projects unveiled Monday are West Asia’s largest hydrocracher and the largest hydrogen furnace.

The units that went operational also improve the refinery’s output to meet the Euro V requirements for pollution.

This is a key development as Abadan refinery produces 25 percent of the fuel consumed in Iran.

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