FACTS: Iran's refinery megaproject may face more delays

Iran's plans to implement a major refining project in a bid to cope with surprisingly strong gasoline demand growth may face further delays.That's the view of Honolulu consultancy FACTS Inc., headed by Fereidun Fesharaki.Iran's gasoline demand has surged to unexpected levels. Imports jumped to 160,000 b/d this year from 100,000 b/d in 2003, "resulting in an import bill of $2-3 billion in 2004," FACTS reported. Click here to enlarge imageState oil company National Iranian Oil Co. (NIOC) plans to increase the crude capacity of its Bandar Abbas refinery in two phases to more than 640,000 b/d from 232,000 b/d currently. Three condensate splitters are to be added later to produce...

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