Cabinet approves resolution to support developing oil, gas downstream sectors

TEHRAN – The cabinet has approved a new resolution proposed by the Oil Ministry to add a note to Article (17) of the executive law on supporting the development of downstream oil and gas condensate sectors in order to allow changing the license of refinery projects to petro-refinery ones.

Oil Ministry gets green light to build 300,000-bpd petro-refineries

TEHRAN – Based on the national budget bill for the next Iranian calendar year (begins on March 21), Oil Ministry has been authorized to use various resources including private sector and foreign investments to construct petro-refineries with a total capacity of 300,000 barrels per day.

Domestic banks to form consortium to implement $4b petro-refinery projects

TEHRAN – Iranian Oil Minister Javad Oji said some major domestic banks are going to form a consortium with a total investment capacity of four billion dollars to implement petro-refinery projects across the country, IRIB reported.

42 companies apply to build petro-refineries nationwide

TEHRAN – Financial and technical resumes of 42 Iranian companies that applied for construction of petro-refineries across the country have been received by the Oil Ministry for assessment, Deputy Oil Minister for Planning Houshang Falahatian said.

Iran authorizes 74 domestic companies to build petro-refineries

TEHRAN – Iranian Oil Ministry has authorized 74 domestic companies for the construction of petro-refineries across the country, IRNA reported on Monday, quoting Deputy Oil Minister for Planning Houshang Falahatian as saying.

‘Private sector ready for contribution to petro-refinery projects’

TEHRAN - Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)’s energy committee says the country’s capable private sector is ready for participation in the oil ministry’s refinery and petro-refinery projects, IRNA reported on Friday.

By Ebrahim Fallahi

Petro-refinery: Iran’s new weapon against U.S. sanctions

Increasing the country’s petro-refining capacity has recently become a hot topic among Iran’s top research institutions and research centers as a key defense mechanism against the impacts of the U.S. sanctions on the country’s oil industry.