Page 14 - DMEA Week 08 2021

DMEA NEWS IN BRIEF DMEA

REFINING gas pressure to transport gas via pipelines and The project will have a $1 billion
lift oil in gas-lift operations. petrochemical complex that will lay the
Iran says refining capacity FINANCIAL TRIBUNE foundations for Pakistan’s petrochemical
industry by producing polyethylene and
at 2mn bpd Masterplan for Pakistani oil polypropylene.
“Though the federal government is directly
According to Shana, the Coronavirus did city, Aramco refinery ready dealing with the Saudis, we will invite them
affect on Iran’s oil refining capability, stated after the planning is completed,” Kakar said,
Alireza Sadeq-Abadi, National Iranian this year adding: “The oil city is equally big as Gwadar.
Oil Refining and Distribution Company We have made the masterplan of Gwadar
(NIORDC) Managing Director. A masterplan for Pakistan’s largest oil city, as a smart city with an area of 88,000 acres,
NIORDC was amid slight refineries all including a $10 billion Aramco oil refinery keeping in view requirements up to 2050.”
around that world that did not reduce its project, is underway and expected to be ready Apart from the oil city, Gwadar authorities
refining capability in the pandemic, the before the end of the year, Pakistani officials are also developing an industrial zone
official further stated. said this week. expected to be completed by 2023 that will
The secretary-general of Iran’s Oil Refining The proposed mega oil city will be also attract significant investment in the area.
Industry Companies Association (ORICA) developed on 88,000 acres of land in “Industrialisation is expected to start from
stated that the country’s oil refining capacity the Gwadar district of the southwestern 2023 with the provision of basic utilities,
stood at two million barrels per day. Balochistan province to refine and process including electricity,” Attaullah Jogezai,
IRIB quoted Nasser Ashouri as saying that petroleum products mainly imported from managing director of the Gwadar Industrial
the country’s refineries put two million barrels the Gulf region, for local and regional Estate Development Authority, told Arab
of crude oil into petroleum products at full consumption. News.
capacity on a full-time basis. “The planning for the mega oil city Gwadar has been touted as the ‘crown
MENAFN which will host an Aramco refinery and jewel’ of the multi-billion dollar China-
petrochemical complex is in progress, and we Pakistan Economic Corridor.
Domestic manufacturers to will take six to seven months to complete the by Saudi and Chinese investment, the GDA
Through the development projects backed
masterplan,” Shahzeb Khan Kakar, director
supply Bidboland refinery general of Gwadar Development Authority chief forecast that the per capita income of
Gwadar will surge to $15,000 by 2050.
(GDA), told Arab News.
Iranian manufacturers will provide equipment During a 2019 visit by Saudi Crown Prince “Fisheries, an oil refinery, petrochemical
and parts including electro-compressors for Mohammed bin Salman, Saudi Arabia and complexes, a shipyard, the tourism industry,
the Persian Gulf Bidboland Gas Refinery, Pakistan signed seven investment deals worth and most importantly the operations of
managing director of the refinery said. $21 billion. The deals covered mineral, energy, Gwadar port, will all generate huge incomes
“The refiner has signed seven MoUs with petrochemical and food and agriculture and increase per capita income,” Kakar said.
local companies worth $104 million,” Oil projects, and involved players such as Aramco, “This can be achieved by providing
Ministry news portal Shana quoted Mahmoud Acwa Power and the Saudi Fund for Pakistan. electricity, protection and a sound
Aminnejad as saying. The $10 billion Aramco Oil Refinery “with management system.”
“One of the important agreements is a 250,000-300,000 barrel per day capacity “is Authorities developing a 300 MW coal-
the design and construction of 24 electric expected to be commissioned in about five to fired power plant and a 5 million gallon per
compressors, “ he said. Compressors provide six years. day desalination plant say both projects will

P14 www. NEWSBASE .com Week 08 25•February•2021