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Headline
Tuesday 9/27/2011

Iran Oil Price

First Extra heavy Oil Refinery at Qeshm

Head of Petroleum Refining Division of Research Institute of Petroleum Industry (RIPI) of Iran announced first heavy oil refinery to be constructed at Qeshm Island in order to produce light oil and high-grade bitumen from heavy crude. Mansour Bazmi, Head of Petroleum Refining Division at RIPI underlined that this refinery which will be operational in next one and half year has a capacity of 30 thousand bpd. Converting heavy crude to other products will generate added value, and this will result in more income for the country. He added. Crude oil of Soroush and Nowrouz Fields, which is amid the heaviest crudes of the country, will be converted to other valuable products. By this, these products will find better market in Asian as well as European countries. Bazmi said. Mentioning that the construction of the first extra heavy oil refinery has been started six months ago at Qeshm Island, Bazmi stated that the refinery has been designed at RIPI while the contract of high-grade bitumen and light oil production technology has been signed by a private company.
Source: NIOC

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