Iran Self-Sufficient in Gasoline Production: Oil Minister
TEHRAN (Tasnim) – Iranian Oil Minister Bijan Zangeneh said the country has reached self-sufficiency in producing gasoline.
"Fortunately, we do not need to import gasoline anymore. We have reached self-sufficiency," Zangeneh said on Monday after the inauguration of the third phase of the Persian Gulf Star Refinery in the southern port city of Bandar Abbas.
“We can export our produced gasoline but have no export plans,” he said.
The minister added that with the inauguration of the new phase, the refinery would produce 45 million liters of petrol per day.
Iran’s Persian Gulf Star Refinery converts light crude, known as condensate, into gasoline and naphtha.
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.