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Iran Invests $46 Billion in Refineries
By Micah Halpern

Wednesday July 28, 2010

I've Been Thinking:

Iran has finally begun to invest in Iranian refineries.
Because Iranian refinery capability is so dismal, the Iranians actually import more than 40% of their own gasoline.

Iran is now investing $46 billion in upgrades on nine refineries and building seven new ones. They have already invested $26 in the new refineries.

The Iranians are finally realizing that the only way to break away from the strangle hold that will continue to tighten around them is by becoming independent. They are the 2nd largest oil producer in the Middle East and the 5th largest in the world and yet they have to beg for refined gas after they export oil.

The plan is to solve this problem within the next year. Iran is racing against the clock, against the sanctions clock. If the Iran plan works, sanctions will have no impact at all.

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4 June 2017 12:13 PM in Thoughts


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