Crude Refining Capacity Reaches Pre-Sanctions Levels

The National Iranian Oil Company has boosted its crude oil refining capacity to 3.8 million barrels per day, returning to levels not seen before the US withdrawal from the nuclear deal and reimposition of sanctions on Iran's crude sales in 2018, managing director of the state-run firm said.
"The plan to raise oil production capacity was implemented in less than six months at an estimated cost of $500 million," Mohsen Khojastehmehr was also quoted as saying by IRNA.
The money was mainly spent on digging new wells and installing electric submersible pumps in marginal and abandoned wells whose output level had decreased substantially, he added.