Iran saves $5.4 by launching major condensate refinery: CEO

SHANA – Inauguration of phases I and II of Bandar Abbas Gas Condensate Refinery has so far saved Iran over 5.4 billion dollars by preventing currency flight.

The CEO of the National Iranian Oil Refining & Distribution Company (NIORDC) said ever since inauguration of the project’s first phase back in April 2017, the plant has prevented exit of 5.4 billion dollars from the country.

The refinery, which is often called Persian Gulf Star Refinery, is touted as the world’s biggest gas condensate refinery, and is being developed with 360 million liters of processing capacity. Its second phase is about to come on-line.

Alireza Sadiqabadi told Shana that the refinery can now supply 24 million liters per day of Euro-5 and 6 petrol which is almost 15 million dollars per day.

The official said the facility has so far supplied 3.7 billion liters of gasoline, 1.7 bl of gasoil, 500 million liters of liquefied petroleum gas (LPG) and 9 billion liters of other petroleum liquids.

The plant’s items are roughly valued at $5.4 billion, added Sadighabadi, who is also deputy petroleum minister for refining and distribution of petroleum products.