Raeisi in Khuzestan to inaugurate Abadan Refinery 2nd phase
Iranian President Ebrahim Raeisi arrived in Abadan on Monday morning to inaugurate the second phase of the development plan of Abadan Refinery in southwestern Iran.
MEHR: Iranian President Ebrahim Raeisi arrived in Abadan on Monday morning to inaugurate the second phase of the development plan of Abadan Refinery in southwestern Iran.
Speaking before noon on Monday 29 March in the opening ceremony of the first part of the second phase of the Abadan Refinery coinciding with Oil Nationalisation Day, Ebrahim Raisi congratulated the arrival of Nowruz and the holy month of Ramadan, and said, "The opening of the second phase of the Abadan Refinery is happening on a day when the people of Iran expelled the British from Iran's oil industry in order to manage this industry with the capable hands of their own experts and workers."
The President added, "The British and Americans mistakenly think that it is only them who have the ability to do important and complex tasks, and they apply this idea in their behaviour towards other nations and humiliate them, but today, in the Abadan Petrol Refinery, we witnessed a valuable manifestation of "we want, we know and we can" of the Iranian nation."
Pointing out that today in Abadan Refinery, "we are witnessing a sector that has been operating for more than 100 years, and we are also witnessing a sector that is 100% built by the capable hands of Iranian experts and noble workers", he said, "Today, along with the famous Abadan refinery, in fact, another Abadan refinery has started working."
The President stated, "About 34% of this project, which was the most difficult and important part of setting up the refinery, has been implemented in the past year with the hard work of managers, specialists and hard-working Iranian workers, which is a record in jihadist work, and God willing, the work will continue with the same momentum."
Some $1.2 billion has been invested in the development plan with 210,000 bpd capacity will be added to Iran’s refinery capacity.
The main objectives of carrying out this development plan were to complete the value chain and reduce the country’s vulnerability in the face of sanctions by turning crude oil and gas condensates into different oil products and improving the quality of the products.
With the inauguration of this project, the refinery’s gasoline output is estimated to increase by 6%, a 53% increase in liquid gas production, and 23% in gas-oil production, and it will create jobs for 7,000 for local people.
The plan is expected to increase the quality of the products to meet Euro-5 standards, reduce emissions, and decrease mazut production from 45% to 26%.