Bandar Abbas Refinery to Turn Heavy Crude Into Gasoline

Bandar Abbas Refinery is slated to receive the heavy crude from Sorush and Noruz oil fields and then turn it into gasoline, noted the Oil Minister Kazem Vaziri Hamaneh. “Given the crude oil from the fields of Sorush and Noruz is heavy and we faced difficulties in marketing the products from the fields, we decided to by making use of Bandar Abbas Refinery turn the heavy oil into gasoline,” he said adding, the move was made for the first time in the country.

Commenting on the issue of foreign investment in the oil and gas sector Hamaneh said that investment was the major challenge facing the nation’s oil and gas industries. Given the circumstances, the oil industry was in need of investment, a report quoted him as saying on Thursday.

The present human and natural resources have prompted domestic investors to take part in the oil and gas projects in collaboration with the major international oil companies, the minister explained. The suitable and positive environment for competition and lack of monopoly in the field has encouraged the international companies to take part in the oil and gas projects in Iran, he commented.