Iran to spend $22bn to boost refining capacity

[Kristy]

Iran plans to invest $22bn to construct seven refineries and add more than 1.5 million barrels-a-day to its energy capacity, reported Meed. Aminollah Eskandari, director for refining affairs, National Iranian Oil Refining and Distribution Company's, said all seven refineries would be commissioned by 2012. He expects to increase capacity to 3.3 million b/d from 2.1 million b/d in the next four years, making it the second largest refiner in the Middle East.

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