Iran to be first regional refiner by 2012: official

Iran will be turned into the biggest oil refiner in Persian Gulf by 2012, said director of the Refinery and Oil Products Distribution Company's refinery affairs. Aminollah Eskandari added in a press conference on Tuesday that currently Iran ranks first in making investment in refinery and ranks second in refinery after Saudi Arabia. Saudi's current refining capacity stands at 2,100,000 barrels a day while the... [read full story]