Minister: Iran To Revise Policy Of Crude Oil Export

Tehran, Feb 26, IRNA – Minister of Oil, Rostam Ghassemi, said on Monday that Iran will revise policy of crude oil export to produce high standard petrol and oil derivatives. Ghassemi said Iran can revise its policy of crude oil and gas condensates export and instead build advanced refineries to produce high value-added products. He said that his ministry plans to raise the capacity of crude refining by 3,500,000 barrels per day. ˈSuch a refining capacity will be possible through expanding the existing refineries, establishment of new refineries and building miniature refineries.ˈ He said Iranian technicians have been able to gain access to the technology of fully building oil refineries. Having gained the technology, said the minister, Iran can refine crude oil to fully meet domestic needs and turn into major exporter of oil derivatives. He touched on Iranˈs new potential to produce strategic oil products and said presently, the alkylation unit of Abadan refinery has the capacity to daily produce two million liters of LL 100 gasoline, that is used as plane and helicopter fuel. He said negotiations have started for export of the products./end