The research center of Iran’s Parliament said in a report that petro-refineries are two times more profitable than refineries and suggested that National Iranian Oil Company (NIOC)’s new refinery projects be defined as petro-refineries.
Managing director of the Persian Gulf Oil Refining Company said that the refinery has now progressed 95 percent in its development plan, adding that they are working to begin work at the refinery this Iranian year (ending March 20, 2020).
The fourth phase of the Persian Gulf Star Refinery in the southern Iranian province of Hormuzgan will soon begin production of sweet naphtha for the first time, said the managing director of the refinery.
Iran is now self-sufficient in gasoline production, announced Iran's oil minister on Monday following the inauguration of the third phase of the Persian Gulf Star Refinery in the southern port city of Bandar Abbas.
Iran began the construction of a large petrochemical refinery complex in Jask Port on the coast of the Gulf of Oman, cutting the distance between the high seas and its petrochemical terminals by around 600 kilometers.
Iran will invest about 15 billion rupees ($215 million) to expand a refinery run by Chennai Petroleum Corp Ltd in south India, the company’s managing director said, amid US sanctions on the Persian Gulf country that have hit its oil exports.
Iran has agreed to build a new oil refinery for Sri Lanka in addition to upgrading its ageing 50,000 barrel per day (bpd) state-owned refinery, said Sri Lankan Cabinet spokesman Rajitha Senaratne on Wednesday.