Iran has agreed to build a new oil refinery for Sri Lanka in addition to upgrading its ageing 50,000 barrel per day (bpd) state-owned refinery, said Sri Lankan Cabinet spokesman Rajitha Senaratne on Wednesday.
The unstable price situation on the Ukrainian fuel market is linked to dependence of the country on imported goods: The sharp reduction in domestic production and a lack of modern domestic oil refineries, Ukrainian Energy and Coal Industry Minister Ihor Nasalyk said.
The aim is to turn the war-scarred plant into a producer of quality fuel so Iran doesn’t have to rely on imports
A consortium of South Korean and Japanese companies signed agreements to fund and implement a chain of condensate refining projects in southern Iran — a project known as the Octopus of the Persian Gulf.
Iran has begun the construction of 12 oil and gas condensate refinery complexes, said director of corporate planning and member of the board of directors of the National Iranian Oil Refining and Distribution Company (NIORDC) on Wednesday.