Chinese, Japanese, and Korean firms to overhaul Iranian refineries.

摘要

China's Export and Credit Insurance Corp. (Sinosure) has opened a $1.3B line of credit line to allow National Iranian Oil Refining and Distribution Co. (NIORDC) to complete upgrades at the Abadan refinery. The $1.3B line of credit is part of an earlier $3B financing deal between NIORDC and Chinese state-owned Sinopec for the upgrade of the Abadan plant, which will include upgrading existing units at the facility to boost output of diesel and gasoline while reducing output of byproduct mazut from over 40 of current refinery output to less than 20. The upgrade is expected to be finished by 2021.