Iran would be co-financing a new refinery in Spain

Iran would be co-financing a new refinery in Spain
5 years ago

Iran would be co-financing a new refinery in Spain

Refinery “La Rabida” in Palos de la Frontera (Huelva)

soon to rise, the sanctions still weigh against Iran, having abandoned its claims to have nuclear energy without international supervision. The star product for export is oil, resources of which Iran has in abundance.

back in September, the minister of Industry and Energy, José Manuel Soria, who traveled to Iran to meet with the managers of the petrochemical sector. That trip has borne fruit, as has officially announced the construction of a refinery new in our country.

The iranians will participate at 50%, the rest of the investment will be contributed by the private sector English. Two of the oil of reference, Repsol and CEPSA, are very interested. The costly investment will recover by the activity of the own refinery.

Photo: Jose Antonio Cotallo López (Flickr) CC BY

right Now the barrel of oil is at minimum since 2004, due to an oversupply from the OPEC countries. If Iran starts to pump barrels, in bulk, the price may not go up in months, which is positive for the economy of countries such as ours, strongly dependent on the energy source outside.

The refinery’s capacity will be 200,000 barrels per day

Spain is one of several countries contacted by the iranian authorities for its crude oil. Through refineries to obtain different value added products, such as gasolines, querosenos or tars. In addition, Spain is a country strategically located, suitable for this type of industry.

The negotiation process is underway and pending completion, according to Abbas Kazemi, deputy minister of Petroleum and also managing director of the Company, the National Iranian Refining and Distribution (NIORDC). Several construction companies are behind getting the contract, including técnicas Reunidas.

Refineries in Spain – Source: AOP (2010)

Situation of the refining industry in Spain

In Spain there are several oil refineries belonging to the three most important companies. Repsol has facilities in Bilbao, Cartagena, la coruña, Puertollano and Tarragona. BP has only one installation, in Castellón. For his part, CEPSA controls the south with Gibraltar/San Roque, La Rábida and Santa Cruz de Tenerife.

Spain needs more refining capacity, since diesel and kerosene will not be refined in sufficient volume, and you have to import it from the outside. Gasoline, in contrast, is refined above the needs of domestic consumption, and a significant amount is exported to third countries.

In 2004, planned to build a refinery in the interior, in Los Santos de Maimona (Badajoz), but the project was cancelled in 2012 by an environmental impact statement negative. The last to be founded in Spain was that of Cartagena, in 2012.

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