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Iranian oil refining capacity to reach 4 MBPD by March 2013
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Saturday, 12 Nov 2011

MNA reported that Iran plans to boost its oil refining capacity to 3.5 million barrels per day by the end of the next Iranian calendar year from the current volume of 1.7 million barrels per day.

Mr Alireza Zeighami deputy oil minister of Iran said that development plans are underway in seven refineries nationwide. The plans would be completed by March 2013.

According to the Annual Statistical Bulletin of the 12 member organization, Iran’s oil refining capacity increased 18 percent last year, the biggest growth among OPEC members. The capacity rose to 1.74 million barrels per day from 1.47 million in 2009 as facilities in Abadan, Arak, Tehran, Isfahan, Shiraz, Lavan and Bandar Abbas expanded.

Iran is trying to cut dependence on fuel imports as sanctions over its nuclear program prevent foreign companies from doing business here. The set of statistics of OPEC also vindicate Iran's claims that sanctions aren't crippling the development of its oil and gas industry. For instance, crude oil exports from the Islamic Republic to Europe in 2010 rose 34.5% to 764,000 barrels a day on average.

(Sourced from Mehr News Agency)

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