Iran’s Largest Oil Refinery to Go on Stream by 2016

09 June 2014 | 22:46 Code : 1934092 Latest Headlines

(FNA)- A senior Iranian oil official said the oil ministry plans to gain self-sufficiency in the production of gasoline by 2016 after the construction of a major oil refinery in the Southern part of the country is accomplished.

Deputy Head of National Iranian Oil Refining and Distribution Company (NIORDC) Shahrokh Khosravani said the Persian Gulf Star Refinery will end Iran’s import of gasoline.

“With the start-up of Persian Gulf Star Gas Condensate Refinery, imports will completely stop and Iran will even become a gasoline exporter,” he said.

Khosravani said gasoline consumption is predicted to increase five percent every year, adding that Iran is forecasted to consume 70 ml/d of gasoline in the current calendar year to March 2015. Iran is currently producing 60 ml/d of gasoline.

He said Iran’s gasoline production will reach 96 ml/d when Persian Gulf Star refiner becomes operational.

Khosravani said the refinery is now 70 percent complete and that the first phase of the facility is to come on-stream by March 2016.

Persian Gulf Star Refinery is expected to produce 13.5 ml/d of euro-4 gasoil and 36 ml/d of euro-4 gasoline.

So far, 2.6 billion euros has been spent on the project which still needs one billion euros.

Iran has expanded its refining capacity during the last couple of years, while its gasoline consumption has come down considerably following the implementation of the first phase of cutting energy subsidies.

The country plans to increase its gasoline and gasoil production capacity by 64 and 12 million liters per day by completion of 9 ongoing development plans at its oil refineries.

These 9 projects include gasoline making units at Abadan, Tabriz, Isfahan, Bandar Abbas, Tehran (Shahid Tondgouyan), Imam Khomeini (Shazand) plus development and upgrading plans at Persian Gulf Star and Lavan oil refineries.

Following the implementation of these projects, production of kerosene and jet fuel will boost each by 7.4 million liters and liquid petroleum gas by 7.4 million liters per day.