TEHRAN - Abadan oil refinery, the largest in Iran, has reported an increase in processing capacity in line with the Oil Ministry’s new policy to slash the export of crude oil.

Hakim Qhayem, the refinery’s managing director, told IRNA that the facility’s processing capacity has risen to 500,000 barrels per day (bpd), up from 470,000 this time last year.

“After stabilizing at 500,000 barrels of crude oil per day, we plan to elevate the capacity to 520,000 bpd by the end of the year,” he said.

When the government of President Ebrahim Raisi took office in 2021, the Abadan refinery processed 370,000 bpd of crude oil, he added.

“With strategic targeting and planning, we aim to transform the Abadan refinery into a petro-refinery, increasing its capacity to 630,000 bpd by the end of the thirteenth government,” Qhayem said.

The official added that some $400 million has been earmarked to turn the Abadan facility into the “largest refinery” in the West Asia region.

EF/