Iran's refining capacity will surpass 1.8 mbd during this Iranian calendar year(started March 20, 2016), senior NIOPDC official said.
Saeed Mahjoubi, an official at the National Iranian Oil Products Distribution Company (NIOPDC) said on Monday that with completion of development projects in petrochemical sector across the country, refining capacity of the country will surpass 1.85 mbd this year.
Speaking to Shana, he underlined that refineries should undergo full set of repairs and this is key to realization of targeted goals in petrochemical sector.
Each refinery will need more than two or three billion dollars investment to execute its development projects, Mahjoubi added.
The official said that NIOPDC will pursue production of qualified products based on Euro 4 standards in the petrochemical sector.
NIOPDC has started a program for decrease of fuel consumption in all refiners across the country and will continue it to optimize the use of energy in this sector, he noted.
Abbas Kazemi, managing director of NIOPDC has also said before that Iran's refining capacity can reach 3.1 mbd once several refinery projects become operational across the country in the years to come.
He noted that some of these projects are underway in Persian Gulf Star Refinery, Siraf Refinery and Anahita Refinery.
The refineries will process crude oil, gas and condensates, he said.
"Promoting optimum use of energy, avoiding sales of crude oil and gas, strengthening the economy against foreign assaults such as sanctions, and bolstering national self-esteem and confidence are among the policies that NIOPDC is seeking to realize," the official said.