Lack of Investment Impairs Crude Processing Capacity

Lack of investment has severely impaired the National Iranian Oil Company’s ability to process crude, which explains the firm’s declining refining capacity over the past eight years.
According to ISNA and based on data from the Oil Ministry and NIOC, failure to capitalize on the private sector’s experience, absence of rehabilitation plans and the focus on sale of low value-added products have reduced oil processing capacity by 231,000 barrels per day since 2013.
Refining complexes across Iran processed 2.331 million barrels of crude per day in 2013. Nonetheless, the capacity has now dwindled to 2.1 million, registering an 11% decline.