Middle East Economic Survey

VOL. L

No 49

3-December-2007

IRAN

NIORDC Announces Essar Exit From Bandar Abbas Heavy Oil Refinery

The National Iranian Oil Refining and Distribution Company (NIORDC) has announced the withdrawal of Indias Essar group from a proposed project to build a 300,000 b/d heavy oil refinery at Bandar Abbas. NIORDC Managing Director Mohammad Nematzadeh said on 28 November that Essar had pulled out of the refinery project because of pressure from the US, after the Indian firm...