Iran Ranks 1st in Increasing Oil Refining Capacity

Saturday, June 21, 2008

The British Petroleum Company has announced that Iran ranked first in 2007 in terms of increasing its oil refining capacity.

Iran’s oil refining capacity in 2007 has grown suitably compared to a year ago to hit 1.857 million barrels per day.

According to 2008 world energy report of British Petroleum (BP), Iran’s crude oil refining capacity stood at 1.732 million barrels per day in 2006 which increased to 1.875 million barrels per day in 2007.

Therefore, the Iranian government has increased its refining capacity by 125,000 barrels per day during the past year.

At the same time, according to the BP report, Iran is the first country in the world in terms of increasing its crude oil refining capacity in 2007. Iran’s capacity for crude oil refining in 2007 has grown by 7.2 percent compared to a year before. In terms of increasing oil refining capacity, Iran is followed by China (6.9 percent) and Taiwan (5 percent).

Oil refining capacity in the world grew by 1.4 percent in 2004 to reach 87.812 million barrels per day.

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