China to Finance Development Projects of Abadan Refinery

TEHRAN (Tasnim) – Negotiations for securing a credit line from China for development projects of Abadan Refinery are in their final stage, said an Iranian oil official.

China to Finance Development Projects of Abadan Refinery

“Our negotiations with the Chinese side on a credit line for development of Abadan Refinery are in their final phases, and we hope the projects for boosting production capacity and development of the refinery will soon follow," said the Managing Director of National Iranian Oil Engineering and Construction Company (NIOEC) Farhad Ahmadi.

"Two projects to increase production capacity and improve production processes in Imam Khomeini Refinery of Shazand and Tehran Refinery have come on stream, and the development project of Bandar Abbas Refinery is also underway," he said, and that two new refining projects will start in the near future: The development project of Abadan Refinery, and Anahita Refinery project which can be kicked off soon after it is financed.

National Iranian Oil Refining and Distribution Company (NIORDC) is part of the Ministry of Petroleum of Iran. NIORDC was established on March 8, 1991 and undertook to perform all operations relating to refining and distribution of oil products.

Although NIORDC was formed in the 1990s, the company has actually inherited 90 years of Iran’s oil industries' experiences in the fields of refining, transfer and distribution of oil products, as well as engineering and construction of installations of oil industries.

 

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