Refining

The Kremlin said earlier this week that penalties could hurt investment projects with European partners. such as the Nord Stream Two pipeline from Russia to Europe.

Germany is leading a group of countries whose companies are taking part in building the 55bn cubic metre a year (cm y) route.

India'.s state refiners have cut oil import plans from Iran by a quarter in the year to March 2018.

Upon the completion of the project. the refinery will raise its propylene production by 1 million tons per year.

Kuwait has so far bought Chinese-made rig equipment worth more than 4.3 billion yuan.

Iran has steadily reconnected with buyers across Europe since sanctions were lifted and NITC expects to play a bigger role.

Turkey will continue to be a part of all pipeline projects to diversify resources.

Iran’s oil refining capacity reportedly stands at around 1.8 million barrels per day.

TAPI is an important linchpin in the realization of the New Silk Road in the arena of energy.

The lifting marks a new period for this project.