Iran also expanding refining capacity China to invest $20 bil in oil sector Refining capacity to serve petrochemicals Iran will become a gasoline and gas oil importer in the next two or three years due to strong domestic consumption, oil minister Javad Owji said, the oil ministry’s news service Shana reported on Feb 6. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Domestic refinery capacity is set to increase by around 200,000 b/d within two or three years, he said. “We have signed contracts for an additional 1.46 million b/d to be implemented in a period of four to six years for refineries that produce feedstock for petrochemical plants,” the oil minister added. He pointed out that $2.5 billion to $3 billion is needed to add every 100,000 b/d of refining capacity, and funding will be arranged. Iran is capable of exporting […]