Iran to inaugurate key oil projects to boost gasoline, jet fuel output

TEHRAN,June 25(MNA) – Fourteen oil projects will come on stream today at the Lavan Oil Refinery in Iran’s southern Hormozgan province, which will boost the country’s gasoline and jet fuel production by 2.8 million liters and one million liters per day, respectively. President Mahmoud Ahmadinejad is scheduled to officially inaugurate the projects. The projects also aim to increase furnace oil and liquefied gas outputs by two million liters and 200 tons, respectively. Products of the Lavan Oil Refinery meet the Euro-4 standards. National Iranian Petrochemical Company Managing Director Abdolhossein Bayat said in December 2012 that about $80 billion in investment opportunities have been identified in both upstream and downstream sectors of the Iranian petrochemical industry, and this shows that the industry is taking great steps toward development. China and countries in Western Europe are the main recipients of Iran’s petrochemical exports, followed by countries in Southeast Asia, the Middle East, the Indian subcontinent, Africa, and Latin America, he noted. Iran’s petrochemical exports amounted to $12 billion in the past Iranian calendar year, Bayat further said. Last year, petrochemical products were exported to around 60 countries of the world, he said.