BAKU, Azerbaijan, April 15
By Elnur Baghishov - Trend:
The processing of the Persian Gulf Star Oil Refinery Company of Hormozgan province in southern Iran will increase by 60,000 barrels until the end of the 6th month of the current Iranian year (March 20 to September 21, 2020), said executive director of the company Mohammad Ali Dadvar, Trend reports citing Shana news agency.
According to Dadvar, at present, the company's plant receives 420,000 barrels of gas condensate per day.
Dadvar added that with the completion of the unit under construction at the company's plant, this amount will reach 480,000 barrels.
"Currently, related equipment, such as air conditioners, are being brought to the plant, some equipment is also being produced. The volume of production will increase by 20 percent with the increase of processing capacity," he said.
The official said that at present, the company's plant produces an average of 45 million liters of gasoline and 17 million liters of diesel per day. With the increase in processing capacity, this production will reach about 54 million liters of gasoline and 20 million liters of diesel per day.
Dadvar said that at present, the company produces an average of 3.5-4 million liters of naphtha per day. Most of the naphtha produced is exported, and the rest is delivered as fuel to the Tabriz Petrochemical Company and Shazand Petrochemical Company.
Construction of three phases of the Persian Gulf Star Oil Refinery (processing 120,000 barrels of gas condensate per day in each phase) began in 2006. The third phase of the company's plant was commissioned in 2019.
In addition, the fourth phase of the Persian Gulf Star Refinery was designed to process 120,000 barrels of gas condensate per day. However, later it was decided to increase the production capacity of the other three phases instead of this phase. The company has saved about $90 million and these funds will be spent elsewhere.
The US imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies and individuals.