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 ...

NIOC has concluded MoUs with Austria’s OMV and Thailand’s PTTEP for undertaking surveys on the oilfield.
Singapore-based Berlanga Group has signed a memorandum of...
Essar’s Oct. Iran Oil Imports Fall
Indian private refiner Essar Oil’s imports from Iran fell by...
Tehran and Dushanbe have discussed the idea of using tracts of land in Tajikistan for cultivating crops to be imported back to Iran.
In his first overseas trip as Iran's energy minister, Reza...
IEA: US to See Most Crude Output Growth in 10 Years
The United States is expected to account for more than 80% of...
Just two offshore companies accounted for 45% of the total owed creditors this year.
Offshore oil drilling and services companies, hurt by the...
S. Arabia’s Falih: 50% of Excess Oil Remain
The world will still have a surplus of oil by the end of March...
Oil Prices Set for Weekly Fall
Oil prices rose on Friday but remained en route for their...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus