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Refinery Mulls Turning into Petro-Refinery

Refinery Mulls Turning into Petro-Refinery
(Sunday, April 25, 2021) 14:30

TEHRAN (NIPNA) – Iran’s Isfahan Refinery is planning to turn into a petro-refinery in the near future.

According to the Deputy Minister of Economy and Commerce and member of the board of directors of Isfahan Oil Refining Company and Isfahan Petrochemical Company, the company has taken a fundamental step to become a petro-refinery by having acquired about 42% of Isfahan Petrochemical Company’s shares, reported the refinery.

Mehdi Sarami stated that the Isfahan refinery provides 100% of the province's petrochemical feedstock, adding: "By converting the Isfahan Oil Refining Company into a petro-refinery and investing in downstream industries that depend on the refinery and feed themselves from this huge industrial complex, the needs of other industries will also be met.”

He noted that today the developed countries of the world are moving towards establishment of petro-refining units (integration of petrochemical and refinery units) and this trend shows its special importance, adding: “Enhanced profitability, reducing pollution, reducing feedstock costs and management Integration are some of the benefits of petro-refineries.”

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