TEHRAN (FNA)- Managing director of the National Iranian Oil Products Distribution Company (NIOPDC) said the Persian Gulf Star refining project’s financial problems will be sold through changing the mix of shareholders.


Speaking to Shana, NIOPDC’s managing director Abbas Kazzemi said the project had made progress by 65 percent adding the exact time of completion of the project will be announced in near future.

Persian Gulf Star refinery is the first refining project in Iran which has been designed based on using gas condensate as feedstock. The refining project is under construction near an old oil refinery in Bandar Abbas south of the country. The refinery will be fed through a 388 km pipeline which will carry gas condensate from Assaluyeh, onshore installations of South Pars gas field, to Bandar Abbas.

Upon completion, Persian Gulf Star refinery will raise production capacity of gasoline and gasoil respectively by 35 and 14 million liters per day. Production of 4 million liters of LPG, 3 million liters of jet fuel and 130 tons of sulfur per day are among the other potentials of the facility.

NIOPDC, Oil Industry Pension Fund, Social Security Investment Company and an Indonesian company, SPC, are the main shareholders of the project.

By Fars News Agency

 

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