Page 12 - DMEA Week 17 2022

DMEA TERMINALS & SHIPPING DMEA

Iran signs deal for new oil storage

facility as fire hits Abadan

MIDDLE EAST IRAN’S Ministry of Petroleum (MoP) this issues with insulation.
week signed a memorandum of understanding The refinery’s managing director, Hakim
(MoU) with the local Bank Melli for investment Ghayyem, was quoted by Iran’s IRNA as saying
to establish an oil storage facility the southern that firefighters had been able to contain the
Hormozgan Province. blaze without loss of life or injury. He added
The country’s state energy sector media outlet that an investigation had been launched into the
Shana reported that Minister of Petroleum Javad cause of the fire, which broke out in the morning
Owji, his deputy and CEO of National Iranian of April 28.
Oil Refining and Distribution Co. (NIORDC), Earlier this month, NIORDC reported that
Jalil Salari, and Bank Melli CEO Mohammad work on the facility’s second phase of develop-
Reza Farzin had attended a signing ceremony ment was nearing completion. Ahmad Farzaneh,
for the construction of the Shahid Nader Mah- the company’s manager for the Abadan Refinery
davi Oil Depot in the downstream hub of Bandar Development and Stabilisation Project said that
Abbas. the scheme is 92% complete and will be finalised
The terminal will house 18 storage tanks with during the summer.
a total capacity of 600mn litres, making it the “The venture includes the installation of new
largest of its kind on Iran’s Gulf coast. units, including hydrogen processing, hydroc-
It will be fed by refineries in the nearby Ban- racking, liquefied petroleum gas [LPG], crude
dar Abbas refining complex, with Shana noting distillation and other utilities to replace old units
the under-construction Shahid Ghasem Soleim- built 70 years ago,” he said.
ani refinery and the Mehr Persian Gulf refinery, Farzaneh added that the HPUs will both
presumably referring to the 360,000 barrel per improve the facility’s environmental perfor-
day (bpd) Persian Gulf Star Refinery (PGSR). mance and increase the supply of Euro-V com-
Minister Owji said earlier in April that work pliant fuels.
would begin by the end of the month on the Phase 2 is split into two stages, and while
300,000 bpd Soleimani refinery, which will be Farzaneh did not clarify, he appears to have been
located alongside the PGSR and built at an esti- talking about the first of these, which he said ear-
mated cost of $11.5bn. lier this month would come in at a cost of around
Shana said that the new facility is seen $1.26bn. Stage one also includes vacuum distil-
improving Iran’s strategic petroleum products lation units, utility units and ancillary facilities.
storage capacity while completing the onshore/ He said the full second phase would stabilise
offshore oil export value chain as well as increas- Abadan’s throughput capacity at 360,000 bpd,
ing fuel availability in the south of the country. through the addition of new units to replace
ageing parts of the facility, noting that the new
Abadan fire units would all come on stream by the end of the
To the west, a fire broke out at Iran’s (and the current Iranian calendar year, which concludes
region’s) oldest refinery, with reports blaming in March 2023.™

P12 www. NEWSBASE .com Week 17 28•April•2022