Iran to launch 9 refining projects next year

Head of the National Iranian Oil Refining and Distribution Company (NIORDC) Alireza Zeighami said development plans at Imam Khomeini (Shazand) and Lavan oil refineries, upgrading and boosting capacity at Shahid Tondgouyan (Tehran), Tabriz and Isfahan oil refineries, gasoline making unit of Bandar Abbas oil refinery as well as the third phase of the development plan of Abadan oil refinery will come on stream up to June 2013, when President Ahmadinejad's second term of office ends. According to Shana, Zeighami said under the parliament's legislations the National Development Fund no longer supports construction of Persian Gulf Star and Anahita oil refineries financially therefore the financial needs of the two projects should be met through other channels. Just 10 percent of the Persian Gulf Star oil refinery's shares are owned by the state and the remainder of the shares is private, the official said, adding it is expected that the needed funds be met through foreign investment. On building Pars Field oil refinery, which will be fully Iranian made, NIORDC's managing director noted that the refinery would keep going ahead under the fifth five year development plan legislations, adding NIORDC may assume 20 percent of its shares. Bandar Abbas oil refinery's gasoline making project is going on well and will come on line in June 2013 before Ahmadinejad's term ends. He also said up to now seven oil refineries had been transferred to the private sector under Article 44 of the constitution which emphasizes privatization of state-owned entities. 80 percent of refining activities has been transferred to the private sector and the state is in charge of the remaining 20 percent, the official said, adding that oil distribution companies, gas pipelines, telecommunications and engineering subdivisions are also waiting for privatization. "A number of important refining projects will be inaugurated this year, including pipeline and development plans of oil refineries," Zeighami concluded.