Page 8 - DMEA Week 31 2022

DMEA REFINING DMEA

Isfahan refinery announces

operational update

MIDDLE EAST IRAN’S Isfahan Oil Refining Co. (IORC) while lowering its environmental footprint.
announced this week that it had turned a net In May, Qadiri was quoted as saying that
profit of $433mn during the first quarter of the IORC had invested a cumulative total in excess
current Iranian calendar year, which ran from of $1.4bn on projects to make it a “green” enter-
March 21 until June 21. prise within the next two years.
Commenting on the results, the refinery’s “With the help of the development projects,
finance manager, Saheb Arjomand, told the observation of environmental standards, i.e. pro-
Ministry of Petroleum’s Shana news agency: duction of environmentally friendly products in
“Last year during the spring, the company accordance with Euro 4 and 5 standards, we are
earned about $83mn. This year’s net profit in the taking big steps toward shaping a sustainable
first three months of the year is more than five economy,” he said.
times last year,” He noted that the availability of water poses
IORC said that the increase in profits comes a significant operational threat to energy sector
on the back of projects to upgrade the 200,000 activities, adding: “With the aim of turning the
barrel per day (bpd) facility and expand its prod- threat into an opportunity, various projects have
uct slate. been implemented or are being carried out.”
In June, managing director Mohsen Qadiri For the first time in Iran, he said, “the national
said that a new diesel treatment unit would come environmental project of treatment and indus-
on stream by early September. IORC currently trial use of municipal wastewater has been
produces 4mn litres per day of Euro-5 diesel and launched in Isfahan Oil Refining Company for
Qadiri noted that this capacity would increase reducing the use of drinking water resources by
to 20mn lpd. “Costing $600mn, the project is 750 cubic metres per hour.” This project took two
expected to reduce sulphur content in diesel years to complete and cost a total of $3mn.
from 6,000 parts per million (ppm) to less than Isfahan was named alongside the Bandar
10 ppm,” he told Shana. Abbas, Tabriz and Tehran refineries as part of a
The launch of the new unit comes as part of $10bn improvement programme announced by
wider efforts to upgrade and expand the refinery the National Iranian Oil Co. (NIOC) in 2016.™

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