Iran Building 7 Refineries

TEHRAN (FNA)- Some seven refineries are being constructed across the country at a cost of dlrs 27 billion.

“After the inauguration of these seven refineries, the production capacity of the country in gasoline and gas-oil will increase by 190 and 180 million liters per day respectively,” Head of National Iranian Oil Refining and Distribution Company (NIORDC) Seyed Noureddin Shahnazizadeh said at a press conference here in Tehran on Sunday.

The move is aimed at sharply increasing Iran’s refining capacity in an attempt to cut gasoline imports.

Shahnazizadeh said that they will become operational in 2013 if necessary funds are made available timely.

Iran, the world’s fourth largest oil producer, lacks adequate refining facilities to produce gasoline and allocates huge sums to import gas, which burdens state coffers.

In June 2007, President Ahmadinejad introduced a gasoline-rationing program under which private cars get a maximum of 100 liters of petrol per month.

Shahnazizadeh added that the private sector would be responsible for the execution of the plans, adding that the company has a ten to 20 percent share.

One of the priorities of the company is to turn the country into an exporter of oil products, he said.