Iran hopes to boost its oil refining capacity to 3 million barrels per day by 2018 from 1.9m now with the opening of new refineries as the OPEC member seeks to reduce its dependency on imports of oil products, Iranian media reported.
Iran has had to increase its refining capacity over the past few years due to Western efforts to prevent it from importing fuel as part of sanctions over Tehran’s nuclear activities.
Refinery capacity expansions and government efforts to curb fuel use have cut Iran’s imports over the last three years. Iran had said it wants to become a major fuel exporter.
“Iran’s crude oil refining capacity is to reach 3m barrels per day in four years as the Petroleum Ministry plans to sell petroleum products rather than crude oil,” Iran’s oil ministry website Shana reported.
