A long-delayed new 210,000 b/d CDU at Iran’s century-old 390,000 b/d Abadan refinery was completed on 17 March. First announced in 2017, the CDU is part of an expansion phase that includes a 100,000 b/d VDU upgrading unit which will reduce fuel oil yields from 40% to 20%. Iran secured a $1.3bn credit line from China’s Sinosure for the development (MEES, 10 February 2017).
Speaking to oil ministry press outlet Shana, Minister Javad Owji says that the project will increase daily gasoline output from 10mn liters (63,000 b/d) to 14mn (88,000 b/d), while diesel production will see a 3mn l/d (19,000 b/d) increase to 18mn l/d (113,000 b/d) once the VDU is operational. Though Chinese state firm Sinopec had quietly helped with the project according to previous statements by Iranian officials (MEES, 28 January 2022), Mr Owji says the project, which came with a price tag of $1.1bn, is “100% state-owned.” (CONTINUED - 146 WORDS)