Lavan Oil Refining Company has allocated over US$ 100 million for the expansion of the Lavan refinery. This is apparently only 10% of the total money required to carry out all expansion plans. The facility currently has a processing capacity of 30 000 bpd and the expansion will take the capacity up to 50 000 bpd.
Also in Iran, senior Iranian gas officials have announced that 90% of all essential repairs being carried out on gas plants in Iran are now complete. 20% of the parts and materials that have been required for the work being carried out at the National Iranian Gas Company owned plants were manufactured domestically.
The Nigerian Minister of Petroleum has announced government plants to spend N 251.2 billion on repair work at the country’s three refineries. There are plans in the country to build new facilities but priorities currently lie with maintenance turnarounds at the existing facilities.
Rosneft has announced plans to spend US$ 25 billion on modernising all Soviet based refineries. Apparently US$ 7 billion of the budget has already been spent on modernisation and the remaining US$ 18 billion will be spread over the next five years. After the completion of this modernisation program in 2016, Rosneft will be able to produce a higher percentage of light oil products.
Edited from various sources by Claira Lloyd.