Iran Indigenizes 80% of Oil Equipment: Deputy Minister

Iran’s deputy oil minister said the country has succeeded in manufacturing 80 percent of oil parts and equipment domestically despite being under sanctions.

News ID: ۸۲۹۲۲۲

07 March 2024

EghtesadOnline: The Iranian Oil Ministry has focused on taking advantage of the expertise and technical know-how of knowledge-based companies, Jalil Salari said, emphasizing that more than 80 percent of the oil equipment is manufactured in the country.

Speaking in a meeting held in Abadan on reviewing the quality plans of oil byproducts, he said that the oil ministry took effective steps in the past two years for the domestic production of oil parts and equipment.

One of these measures is related to the launch of extraterritorial refining plans overseas and the export of technical and engineering services, he stated.

So far, three- to four technical know-hows have fully been localized in refining companies in the field of producing catalysts, compressor manufacturing and streamlining the quality of fuel oil, the chief executive of the National Iranian Oil Refining and Distribution Company (NIORDC) said.

He put the oil production capacity at Abadan Oil Refinery (AOR) at 500,000 barrels of oil per day (bpd), Mehr news agency reported.

With the increase in the capacity and quality of oil byproducts, the country’s gasoline production capacity has reached 129 million liters/day, Salari highlighted.

He went on to say that the export of oil and oil byproducts in first the nine months of the current Iranian calendar year (March 21 to December 22, 2023) registered a 4.5 percent growth compared to the same period last year. / Tasnim