Iran will no longer rely on gasoline imports as soon as the new refinery makes itself sufficient providing motor fuel by 2017. The plan had been launched by the National Iranian Oil Refinery and Distribution Company (NIORDC) and the Iranian Ministry of Petroleum for a major refinery project.
The Persian Gulf Star plant's first phase of the 360,000 barrel a day will be concluded during the current Iranian year ending in March where another two units will be ready in 2017.
Condensate will then be processed by the facility, which is a light oil contained in natural gas deposits in the South Pars field. The refinery has been postponed by international sanctions that restrained the country's ability to complete major projects. Before trade restrictions were established over its nuclear program, Iran has been able to purchase fuel since arriving at an agreement in January with world powers, Bloomberg reports.
