LORC to Run 4 Projects Soon

Akhbari told reporters that the projects are as follows: Yielding special production to raise liquidity, raise value-added of the Lavan Oil Refinery’s oil product, vacuum distillation project and bitumen production unit construction. 

He said preliminary studies in the last two projects, which are early incentive in nature, have been completed and a committee to attract necessary capital then asked volunteers to finance the project and the result was a group of almost 30 companies announcing readiness to finance the whole process.

He added that under the project, fuel oil will be turned into bitumen, lube cut, and gasoil. 

He noted that his company advisor at estimated the project to cost 30 million dollars.

The manager said another project his company is to follow is production of turbine back pressure.

He said once the project is commissioned and the turbines are operational, seven to eight megawatts of power can be produced.

He added that the project will cost $12 million.

“The project will drastically cut fuel consumption and wastages and turn them into fuel.”

Elsewhere in his remarks, Akhbari, said on Wednesday that by the next one or two months, his refinery will start to market 2,700,000 liters of euro 4 gasoline as part of Iran’s energy efficiency and environment protection plans.

Akhbari said his refinery will produce up to 2,700,000 liters of euro 4 gasoline from two million liters of euro 20 gasoline.

He said the project will keep the atmosphere clean.

He noted that the Lavan Oil Refining Company’s wastage was minimized dramatically in the Iranian year of 1395 (2016-17) and by 32 percent in the Iranian calendar year of 1394 (2013-14).

He put the amount of wastages in the first seven months of this Iranian calendar year at 11,829 tons from 33,114 tons in the year before.

Akhbari went on to say that thanks to the hard endeavors of his directors and staff, the HDS unit was also put into operation. 

In another development, Akhbar said the distillation units’ construction at Lavan Refinery has cost 230.362 billion dollars.

He announced it will have three projects for whose commissioning tenders will be held in the near future.

He boasted that it is now self-sufficient in catalyst production.

The official said that the refinery plans to produce jet fuel in the near future, adding that jet fuel produced in Lavan cold be exported to countries in the region.