56979
Iran Signs $2b Refinery Expansion Deal With Daelim
Iran Signs $2b Refinery Expansion Deal With Daelim

Iran Signs $2b Refinery Expansion Deal With Daelim

Iran Signs $2b Refinery Expansion Deal With Daelim

Tehran has finalized an agreement worth $2 billion (2.3 trillion won) with South Korea's Daelim Corporation to renovate and expand a refinery in Isfahan Province, head of the National Iranian Oil Refining and Distribution Company, Abbas Kazemi, said on Friday.
“The official and final agreement for improvement and optimization of Isfahan Oil Refinery has been signed with Daelim Corporation, the leading company in the Korean petrochemical sector," Kazemi said, Mehr News Agency reported.
Daelim lifted the veil on the agreement last week, saying in a statement that it had received a letter of award (LoA) from Isfahan Oil Refining Company to develop and expand the huge complex.
The NIORDC official said the deal is mainly aimed at reducing fuel oil production and boosting output of higher-value products such as gasoline.
NIORDC is also holding talks with two high-profile Japanese companies for projects to curtail mazut production at Tehran and Bandar Abbas refineries, Kazemi said, reiterating that final agreements would be signed soon.
Established in 1939, Daelim is one of the largest companies in South Korea. The fields covered by Daelim, as one of the top engineering, procurement and construction companies in Asia, include gas, petroleum refining, chemical and petrochemical, power and energy plants, building and housing, civil works and industrial facilities.

 

Short URL : https://goo.gl/PSM47q
  1. https://goo.gl/ZEmis2
  • https://goo.gl/5oz0cR
  • https://goo.gl/EGPBKR
  • https://goo.gl/tAYtZC
  • https://goo.gl/rNxA2R

You can also read ...

NIOPDC Details Diesel Export to Iraqi Kurdistan
The National Iranian Oil Products Distribution Company in...
All renewable sources, including solar and wind, make up only a fraction of Iran's installed power generating capacity.
With a national energy system that chiefly runs on fossil...
Oil Rises Nearly 1%
Oil prices ended nearly 1% higher on Friday, close to their...
Russia Open to OPEC Cuts While Mulling Exit Plan
Russia signaled that it would be willing to prolong the...
Iran's Light Crude Hits $54
Iran's light crude extended its rally to $54 per barrel in the...
Total won six offshore exploration licenses for the Gulf of Mexico in August.
French Total has expanded its presence in the Gulf of Mexico...
Sri Lanka, China Discuss $3b Refinery
Sri Lanka is in talks with two Chinese companies about...
Merkel’s Green Energy Policy Has Fueled Demand for Coal
By 2030, the eastern German town of Poedelwitz will likely be...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus