Tehran, Iran, Jan. 7
Iran has completed the third phase of the Persian Gulf Star Refinery, while the country’s current gasoline output has increased to 105 million liters per day.
“The third phase of the Persian Gulf Star Refinery is to be officially inaugurated on the 40th anniversary of the Islamic Revolution on Feb. 11,” said Secretary of Oil Refining Industry Cooperative Association (ORICA) Nasser Ashouri, Trend reports citing Tasnim.
Persian Gulf Star Refinery, also known as Bandar Abbas Gas Condensate Refinery, is a new gas condensate refinery near Bandar Abbas. The project is estimated to cost approximately $3.4 billion.
Ashouri also noted the rise of gasoline production in Iran’s refineries, saying, “The country’s gasoline production has reached 105 million liters per day. Iran has reached independency in gasoline production.”
Referring to privatization of the country’s refineries, he says 8 of 10 refineries in Iran are members to ORICA. It is expected that Abadan Refinery and Shazand Arak Oil Refining Co. will join the rest.
“The shares of Abadan Refinery and Shazand Arak Oil Refining Co. belong to the government, but recently the parliament and the government have approved the assignment of 80 percent of these two refineries to private sector, while the 20 percent remains with the government,” he added.
“The Kerman Refinery is a successful example of privatization,” he said.