Iranian Parliament passes bill for boosting gas condensate, oil refining capacity
Trend:
Iranian Parliament has approved the generalities of a bill for increasing the capacity of the country’s oil and gas condensate refineries by domestic investment, Trend reports via IRNA.
The bill was approved by the MPs during an open session of the parliament, with 136 votes in favor, 32 votes against and three abstentions.
According to the spokesperson for the Parliament’s Energy Committee, Sakineh Almasi, the bill would increase the capacities of gas condensate and crude oil refineries using public investment.
“Construction of refineries is a clever response by Iran to oil sanctions, and helps boosting production and creates new job opportunities,” she said.
It is reported that by 2020, the global demand for oil products will increase by 1.1 percent, while the demand for polymers increases by 3.3 percent, so with this in mind, the creation of a hybrid system of refining and petrochemicals (petro-refinery) seems a necessity.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!