Iran needs more than $1B for construction of 5th phase of Persian Gulf Star refinery

Oil&Gas Materials 2 September 2019 15:56 (UTC +04:00)

Baku, Azerbaijan, Sept. 2

By Elnur Baghishov - Trend:

More than $1 billion is needed for the construction of the 5th phase of Iran’s Persian Gulf Star refinery, stated National Iranian Oil Refining and Distribution Company (NIORDC), Trend reports referring to the company’s website.

According to the NIORDC, it is proposed to build the new phase, to be used for refining 120,000 barrels of oil a day, near the plant.

It was noted that at present, up to 500,000 barrels of oil can be transported to the refinery daily via a 388-kilometer-long pipeline.

The Persian Gulf Star refinery currently produces 450,000 barrels of oil per day, the report reads. The plant's processing capacity is set to reach 480,000 barrels by the end of the year (March 21, 2020).