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Zanganeh Supports Building New Refineries in Iran

Refineries in Iran

Despite enjoying the third largest oil reserves in the world, Iran suffers from lack of enough refineries in the country. At this time, there are only 9 refineries operating in Iran.

Over the past few years, Iran’s Ministry of Oil had always refused to finance the building of new refineries. Accordingly officials of the Ministry believe that Iran can hardly make money of constructing new refineries since international customers usually buy crude oil from Iran.

The proposed oil minister Bijan Zanganeh says he supports building new refineries only if the constructors guarantee the return on investment of these plans.

Under the tutelage of Zanganeh, the Persian Gulf Star refinery was built by National Iranian Oil Refining and Distribution Company. This refinery, which is located in Assalouyeh, can refine up to 360,000 of gas condensates per day to produce gasoline, jet fuel, and other valuable products.

“One of my important plans is increasing the number of active oil and gas refineries in Iran. In recent years, Iran has opened several refineries to produce two million barrels of oil per day. But I’m going to build new refineries in the hope increasing Iran’s gasoline production.” Bijan Zanganeh, the former Minister of Petroleum, told reporters on Monday.

According to Iran’s fifth development plan, the government should start exporting gasoline by the end of 2015. Currently, The Persian Gulf Star and Shahriar refineries are producing gasoline in Iran.

“Iran needs to improve its existing refineries too. However, this will cost tens of billions dollars, so public and private sector should work jointly to achieve the set goals.” Zanganeh concluded.

Following the 1979 revolution, Bijan Namdar Zangeneh used to serve for Iran’s Ministry of Oil. His plans have been well-received by critics and analysts. However, Zanganeh has been mainly criticized by conservative politicians for his affiliations with Mehdi Hashemi Rafsanjani.

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