- Imprisoned Dervish Transferred to Hospital after Heart Attack
- Seven prisoners Were Hanged In Northern Iran
- Three Prisoners Were Hanged In Central Iran
- Dervish Issued Harsh Sentence to Intimidate Others
- 2 Christians are arrested in Tehran
- Iran’s Pre-Election Crackdown on Journalists
- CIA head visits Israel to discuss Syria, Iran's nuclear program
- US targets Iran rial, gold imports in sanctions pressure
- Israel air strike on Syria 'is a message to Iran and the US'
- Israel Will Strike Iran 's Subterranean Nuclear Sites
- Iran, not Israel, faces an existential threat, says top US analyst
- Oil-rich Emirates a key part of defense against Iran
- Religious leaders ban 30 women from running for Iran's presidency
- Iranian cleric: Women can't be president in Iran
- Iranians marrying foreigners without state consent face prosecution
- More women smuggling drugs out of Iran
- Canada’s High Court could try Iran for Zahra Kazemi murder
- "Hole"/ Saba Vasefi
- When it comes to Syria and Hezbollah, Israel is walking a tightrope
- IRGC: World now eying Iranian regime's resistance
- Two Iranians in Kenya found guilty of bomb plots
- Iran develops rocket-launcher submarine, smart ships
- Iran to unveil indigenous ballistic, cruise missiles
- Why Iran Is Trying to Save the Syrian Regime
Friday 27 April 2012
COLOMBO (Reuters) - Sri Lanka will refurbish its only refinery, now designed to refine mainly Iranian light crude, to process many other grades to enable the island nation to face a decline in Iranian crude imports after U.S. sanctions get effective by end June, Petroleum Industries minister said on Friday.
"This (refinery) has old technology. After the refurbishment with the new technology, we can use many crude oils," Petroleum Industries Minister Susil Premajayantha told Reuters in an interview.
"It is not going to cost more than $500 million. We are in the process of finding some donors or lenders."
At present, Sri Lanka uses 93 percent Iran crude at its decades-old refinery, but the government has announced it will reduce this up to 20 percent due to the U.S. sanctions on Iran crude imports. (Reporting by Ranga Sirilal; Writing by Shihar Aneez; editing by James Jukwey)