Iran's Persian Gulf Star Oil Company reveals data on sold products

Oil&Gas Materials 25 April 2020 14:11 (UTC +04:00)
Iran's Persian Gulf Star Oil Company reveals data on sold products

BAKU, Azerbaijan, April 25

By Elnur Baghishov - Trend:

The Persian Gulf Star Refinery sold 605,000 tons of oil products last month, including light and medium-sized naphtha at Iranian Energy Exchange last month (March 20-April 19, 2020), executive director of the company Mohammad Ali Dadvar said, Trend reports citing official website of the company.

According to Dadvar, these sales were sold at the Iranian Energy Exchange as part of 17 contracts.

Dadvar added that with the commissioning of the 3rd plant of the Persian Gulf Oil Refinery Company, 15 million liters of gasoline per day have been added to Iran's gasoline production.

The official said that the company has increased daily gasoline consumption from 30 million to 45 million liters. This means about 50 percent of gasoline consumption in Iran.

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 company's plant is expected to process 480,000 barrels of gas condensate per day until September 21, 2020. With the increase in processing capacity, the company's plant will increase gasoline production by 54 million liters per day and diesel production by 20 million liters.

Presently, 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.