President inaugurates expansion project in Abadan Refinery
President Seyyed Ebrahim Raeisi traveled to the country's southwest province of Khouzestan on Monday to inaugurate a new expansion project at the Abadan Refinery.
According to Tasnim News Agency, the project is aimed at increasing the refinery's processing capacity by 210,000 barrels per day (bpd) and has cost $1.2 billion.
Abadan Refinery is Iran's largest and oldest, and the project will increase its output to cover 14 million liters per day of gasoline and 20 million liters per day of diesel.
The expansion project is intended to reduce Iran's vulnerability to sanctions on its direct oil exports and complete the value chain in the country's oil sector.
The project will also improve the quality of fuels produced in Abadan Refinery and lead to a reduction in emissions by cutting back on Mazut production in the facility from 45% of its total output to some 26%.
Established since 1912, Abadan Refinery is the oldest oil refinery in the region. It was once the largest refinery in the world with an annual capacity for processing 25 million metric tons (mt) of crude oil.
The refinery’s capacity was 635,000 bpd (32 million mt per year) before the Iran-Iraq war when the facility was largely destroyed.
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