Oil Minister reports about opening a new refinery in the coming days, which is capable of producing 21,000 barrels of petro-products per day.

Oil Minister reports about opening a new refinery in the coming days, which is capable of producing 21,000 barrels of petro-products per day.

Javad Owji announced the news on the threshold of the Nationalization of the Iranian oil industry, while he was talking to reporters on the sidelines of the cabinet session on Wednesday.

The complex is the largest distillation unit in the Middle East in Abadan Refinery, which started in September 2017.

Owji said that the current administration has finished and opened 31 semi-constructed projects worth $12 billion, the most significant of which was phase 14 of South Pars and phase 2 of Abadan Refinery.

In the first part of the latter project, the capacity of the Abadan refinery will be fixed at 210,000 barrels per day, and with the implementation of the second part within three years, the quality of the produced items is planned to meet the European Euro 5 standard.

Still, he reported the exploitation of a 270 km gas pipeline from Iranshahr to the Makran coast, southeastern Iran, in the coming days.

He also said that Tehran and Riyadh have exchanged views regarding OPEC and OPEC+ policies to ensure stability in the world oil markets.

“All decisions concerning global oil markets over the last few months have been made by pooling minds with OPEC’s de facto leader and closer collaborations are on the agenda Owji was also quoted as saying by the Oil Ministry’s news portal Shana.

Referring to the two country’s recent agreement to restore diplomatic ties after years, he noted that the National Iranian Oil Company has formulated proposals to develop joint oil and gas fields, namely the Arash offshore gas field in the Persian Gulf, with the help of neighboring states.

“We are willing to hold talks and cooperate to develop the joint field.”