Iran’s daily refining capacity exceeds 2.2 million barrels: OPEC


TEHRAN – The Organization of the Petroleum Exporting Countries (OPEC), in its Annual Statistical Bulletin 2022, estimated Iran’s daily refining capacity in 2021 at 2.202 million barrels, indicating an increase of 1,000 barrels per day ( bpd) compared to 2020.

Iran’s refining capacity increased by more than 480,000 bpd between 2011 and 2021, according to OPEC’s annual Statistical Bulletin. Iran’s refining capacity in 2011 was estimated at 1.715 million bpd.

Despite all the external challenges like the coronavirus pandemic and US sanctions, Iran’s oil and gas sector has been growing at a rapid pace and the country is achieving new milestones in this industry every day.

Various sectors of Iran’s oil and gas industry, including exploration, production, processing and distribution, are all among the best in the world and the country is taking further steps to develop the industry even further.

Among the various sectors of this industry, refining is a major sector which is the subject of particular attention for development.

In September 2021, Petroleum Minister Javad Oji said the country’s refining capacity would increase 1.5 times by the end of the current government’s term (in four years).

He mentioned the promotion of the quantity and quality of products from the current refineries and the construction of new refineries as some of the major plans of the Ministry of Petroleum in the new government.

According to the schedule set for the quantitative and qualitative development of existing refineries and the planning for the construction of new refineries in the next four to five years, the country’s daily oil refining capacity will increase by one and a half times to 3, 5 million barrels, the minister said.

“Following the improvement in the quality of petroleum products and the increase in the quality of gasoline and diesel, which is very important for us in the field of the environment, the discussion of the quantitative development plans and quality of refineries is seriously on the agenda of the current government,” he added.

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