BAKU, Azerbaijan, November 2. About 90 percent of the needed spare parts for Iran’s Esfahan Oil Refining Company (EORC) are produced by local companies, especially start-up companies in the country, Executive Director of the EORC, Mohsen Ghaderi said, Trend reports citing the National Iranian Oil Refining and Distribution Company’s website
According to Ghaderi, the Esfahan Oil Refining Company needs an average of 60,000 spare parts per year, most of which are produced domestically.
The director explained that if importing the needed spare parts, it would've cost $70 million, however, Iran's domestic manufacturing (import substitution) resulted in only $40 million, thus saving $30 million last Iranian year (March 21, 2021 through March 20, 2022).
“Iran’s Esfahan Oil Company accounts for 25 percent of the country's total fuel production annually,” he said.
Iran's Esfahan Oil Refining Company (EORC) was established in 1979. The company produces 12 million liters of gasoline per day following the Euro-5 standard, and 4 million liters of diesel in accordance with the Euro 4 and 5 standards. The company supplies about 23 percent of Iran's oil products.
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