Private Sector to Invest $2.5b in Energy Projects

Private Sector to Invest $2.5b in Energy Projects

The private sector has planned to invest $2.5 billion in major refinery projects in the Pars Special Economic Energy Zone (PSEEZ) in Bushehr Province in the next Iranian year (starts March 20), managing director of PSEEZ said Thursday.
Mehdi Yousefi said the projects in the port city of Siraf - including eight gas condensate refineries each with 60,000 barrels per day (bpd) capacity as well as their processing units – will be launched by May 2015, IRNA said in a report.
Once operational, the refineries will help reduce crude sales of gas condensate, generate added value and create jobs, he noted.
PSEEZ is located 300km east of the port of Bushehr. The refineries will be located in the Pars Kangan region of PSEEZ. Pars Kangan is host to Phase 12 of the South Pars oilfield in the Persian Gulf with approximately $17 million in daily revenues.
Investments by private companies will be made in line with Article 44 of the constitutional law, which calls for new opportunities for the private sector and boosts privatization. It also is in accordance with the 'economy of resistance', a measure proposed by the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to counter the sanctions, promote domestic growth and reduce consumption.


Short URL : http://goo.gl/hKrtBM

You can also read ...

BP: Electric Vehicles to Cut Oil Consumption
The emergence of self-driving electric cars and travel sharing...
OPEC Deal Closer to Market Rebalancing
The OPEC deal is closer than ever to meeting its market...
Brent, WTI Prices Slide Over Higher US Production
Oil prices fell on Wednesday, weighed down by a rebound in the...
SP Phases 17-18  Output Increases
Major overhaul operations in phases 17 and 18 of the giant...
The lion's share of petrochemical exports is bound for China, India and South Korea.
Boosting the country's petrochemical revenues entails...
NISOC in Close Cooperation With Domestic Academic Centers
National Iranian South Oil Company can implement complicated...
Special Devices for Gas Regulating Stations
Some 150 natural gas pressure regulating stations have been...