Iran Has Become Resistant against Foreign Threats: Oil Minister
TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zanganeh praised the country’s recent achievements in the oil industry and said the Islamic Republic has proved to be strong enough not to be harmed by foreign threats.
Speaking to reporters on the sidelines of a ceremony to inaugurate the second phase of the Persian Gulf Star Refinery known as the world’s largest gas condensate refinery in southern Iran, Zanganeh said with the second phase coming on stream, the facility’s daily production of gasoline has reached 24 million liters.
In the past, foreign countries pressured Iran through imposing sanctions on imports of gasoline, he said, adding that with the full operation of the refinery, Iran will enjoy a stable condition and there would be no concerns about sanctions on fuels.
The launch of the Persian Gulf Star Refinery with reliance upon domestic capabilities means that the country has become resistant against foreign threats, the oil minister noted.
President Hassan Rouhani officially launched the refinery’s Phase 2 before touring different parts of the huge facility on Thursday.
With the inauguration of this phase, the refinery’s production of Euro-5 gasoline will double, rising from 12 million to 24 million liters a day.
Once all of its three phases come into operation, the refinery’s daily production capacity will reach 36 million liters a day of Euro-5 gasoline as well as 14 million liters of light and heavy diesel, 3 million liters of jet fuel, more than 4 million liters of gas condensates, 130 tons of solid sulfur, and 425 tons of hydrogen.
Developed by Khatam al-Anbia Construction Base, a conglomerate affiliated with the Islamic Revolution Guards Corps (IRGC), the refinery’s first phase was launched in April 2017.
The project is estimated to be completed at a cost of approximately $3.4 billion.
The third and final phase of the project is expected to come on stream by the end of the current Iranian year (March 2019).