Construction of logistic harbours for Iran’s Persian Gulf Star Refinery halted
Azerbaijan, Baku, Oct.4/ Trend F.Karimov/
The construction of logistics harbours for the Persian Gulf Star Refinery in Iran has been halted due to lack of funds, the Tasnim News agency quoted National Iranian Oil Engineering and Construction Company's deputy director Hamid Sharif Razi as saying.
Preliminary studies for building the harbours have been completed. The private sector had pledged to secure the fund for the project. However, it has not yet announced its readiness to start the project, the official said.
If the harbour is established, ships with a capacity of up to 90,000 tons will dock and exports of oil products will be boosted, he added.
The construction of the Persian Gulf Star refinery began seven years ago and 70 per cent complete. The first phase of the refinery is projected to come on stream in the first half of the next Iranian calendar year which begins on March 21, 2014.
The refinery project consists of three phases each with the capacity of producing 120,000 barrels of condensates.
The produced gas condensates will be used for producing gasoline, diesel oil, jet fuel and liquid gas, the IRNA News Agency reported.
Over 75 per cent of the refinery's gas condensate output will be converted to gasoline and diesel oil.
The refinery is projected to produce 36 million litres of gasoline and 14 million litres of diesel oil on a daily basis. Some $1.5 billion is required to complete the project.
The Mehr News Agency reported on May 1 that Iran will create a hub for exporting gasoline in the southern city of Bandar Abbas close to the Persian Gulf, once two gasoline production projects come on stream.
The Bandar Abbas and Persian Gulf Star refineries are projected to produce 50 million litres of gasoline per day.
Gasoline which will be produced by the two refineries will meet Euro-4 and Euro-5 standards.
Four refinery projects are underway in Iran which will double the country's gasoline production capacity to 144 million litres, IRIB quoted Managing Director of National Iranian Oil Engineering and Construction Company Farhad Ahmadi as saying.
The projects will boost production at the Abadan, Anahita, Pars and Shahriyar refineries by 210,000 barrels, 150,000 barrels, 120,000 barrels and 150,000 barrels per day respectively, he added.
Iranian deputy oil minister Alireza Zeighami said on January 25 that seven oil refining projects are underway in Iran with the aim of boosting gasoline production capacity to 110 million litres per day.
The projects will be inaugurated to their maximum by the end of summer, he added.
Projects include the Arak, Lavan, Tabriz, Isfahan, Bandar Abbas, Tehran and Persian Gulf Star refineries.
Iran exported over 132,000 tons of gasoline worth around $134 million last year.
According to the Customs Administration data, gasoline exports rose by 127 per cent in value and 108.5 per cent in volume, respectively compared to the previous year.
Armenia, Afghanistan, the UAE, Iraq and Oman were the destinations for Iranian gasoline.
According to official government data, Iranian gasoline imports have slumped by as much as 95 per cent over the last four years as rising refinery capacity and lowering fuel subsidies help neutralise Western sanctions aimed at starving Tehran of fuel.