admin April 3, 2016

After starting diesel export and becoming self-sufficient in liquefied petroleum gas (LPG) in 2015, Iran is preparing to boost gasoline production by launching the first phase of the giant Persian Gulf Star refinery this year.

Total investments in the Persian Gulf Star refinery reached 3.175 billion euros by late 2015, said Iran’s Oil Ministry in an energy summary report obtained by Trend on March 11.

“The first phase of the refinery will start early production in autumn. However, it is expected to become fully operational by March 2017. The first phase will produce 12 million liters of gasoline per day,” said the report.

By fully commencing the Persian Gulf Star refinery (all of its three phases), Iran will increase its gasoline production by 36 million liters per day.

Gasoline consumption in Iran during a period from March 2015 to February 2016 stood at 70.6 million liters per day, which indicates 1.4 million liters per day increase year-to-year, Nasser Sajjadi, managing director at the National Iranian Oil Products Distribution Company (NIORDC), said earlier.

He also said that Iran would stop gasoline import by August 2016 after the Persian Gulf Star refinery’s first phase becomes operational.

Iran stopped diesel import in 2014 and become its net exporter in March 2015. The country’s diesel exports reached 1.7 billion liters by late February 2016. The Islamic Republic also halted the LPG import in 2014 and its own LPG export reached 117,000 tons in the 11 months of the current fiscal year, which started on March 21, 2015.

According to the NIORDC annual report, Iran consumed 84 billion liters of liquid fuels worth $48 billion, as well as 172.3 billion cubic meters of gas in the last fiscal year, which ended on March 20, 2015.

Source: Trend