“Persian Gulf Star” refinery to solve Iran’s fuel problem, minister says

“Persian Gulf Star” refinery to solve Iran’s fuel problem, minister says

Baku, Azerbaijan, Aug. 22
By Umid Niayesh - Trend:

Iran's Oil Minister Bijan Namdar Zanganeh said that "Persian Gulf Star" refinery will solve the problems with country's gasoline and diesel oil in quantity and quality once comes in stream.

The minister remarked that "Persian Gulf Star" located in the south of Iran will be the country's most important refinery project and second oil industry project after South Pars Gas field project, Iranian official IRNA news agency reported Aug. 22.

Zanganeh said that 75 percent of the construction work of the refinery has been completed, adding, the gasoline and diesel oil produced in it will be of Euro 5 standard.

He noted that the first phase of the refinery, with a production capacity of 120,000 barrel of condensate, will come to stream in the first half of the next Iranian fiscal year( to be started on March 20, 2016).

"The total capacity of the refinery will be 360,000 barrel per day," Zanganeh added.

The oil minister said that the main part of refinery's gasoline production will be exported.

The refinery project consists of three phases, each with the capacity of producing 120,000 barrels of condensates.

The refinery is projected to produce 36 million liters of gasoline and 14 million liters of diesel on daily basis.

Some $1.5 billion is required to complete the project.

Earlier Shahrokh Khosravani, deputy director of National Iranian Oil Refining and Distribution Company (NIORDC), said that once the Persian Gulf Star refinery's gasoline production unit comes on stream, the country's total production capacity will reach 96 million liters per day.

"Then Iran will be able to export the surplus gasoline, which is around 20 million liters per day," he noted.

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