Iranian Oil Ministry is planning to establish eight new petro-refineries in collaboration with the private sector, aiming to double production in the oil and gas sector’s downstream sector.
The ministry’s plan was announced in a meeting of the Government Economic Coordination Headquarters on Monday, IRNA reported.
In this meeting, chaired by President Ebrahim Raisi, the Oil Ministry’s plan for the development of the mentioned petro-refineries in the southern coasts of the country was proposed and it was decided that the National Development Fund (NDF) would participate in the financing of these projects using its legal capacities.
During the gathering, the ministry’s program for increasing the country’s crude oil production capacity was also discussed and it was decided that the government should help in providing sufficient financial resources to the National Iranian Oil Company (NIOC) in this regard. —Tehran Times
