Iran is pushing ahead with expedited plans to ready its planned Jask oil export terminal for operations in early 2021. The 1mn b/d facility located outside of the Strait of Hormuz chokepoint would give Iran valuable flexibility in managing its crude exports – although clearly these are currently under enormous downwards pressure from US sanctions.
Tehran also has plans, less developed, for the creation of a downstream hub at Jask. Petroleum Minister Bijan Zanganeh says that initial agreements have been reached with two domestic firms for two refineries with a combined capacity of 450,000 b/d. One 300,000 b/d plant is slated to be constructed by the Execution of Imam Khomeini’s Order (EIKO), a state-led entity under the auspices of the Supreme Leader. A smaller 150,000 b/d plant would be built by a subsidiary of the privately owned Bakhtar Petrochemical Company according to state news agency Shana. (CONTINUED - 698 WORDS)
