Isfahan Refinery’s net profit surpassed $433 million in the first quarter of the current Iranian year (March 21-June 21) compared with the same period of last year, the financial manager of Isfahan Oil Refining Company said.
“Last year during the spring, the company earned about $83 million. This year’s net profit in the first three months of the year is more than five times last year,” Saheb Arjomand was also quoted as saying by the Oil Ministry’s news agency Shana.
The rise in profit is the result of development projects at the refinery to increase the output of various products.
Established in 1979, the refinery produces 25% of the country’s petroleum products, including 4 million liters of Euro-5 and 16 million liters of Euro-4 diesel a day, as well as 8 million liters of Euro-4 and 12 million liters of Euro-5 gasoline per day. It currently supplies fuel to 16 provinces.
Located on an area of 340 hectares in northwest Isfahan, the company produces about 30 types of petroleum products, including vacuum batuum, for which the refinery is the largest producer in the country.
The company also has a sulfur granulation unit with a daily capacity of 300 tons.
Isfahan Refinery is the main supplier of feedstock to Sepahan Oil Company, Isfahan Petrochemical Company, Arak Petrochemical Company, Jey Oil Refining Company and Iran Chemical Industries Company.
Crude oil needed by the refinery comes from Maroun Oilfield in Khuzestan Province via a 430-km pipeline.
As per its environmental commitments, the company is making efforts to reduce the amount of sulfur in mazut and gradually reduce the production of this eco-unfriendly fuel by converting it into other products.
Mazut is among highly polluting products. It is a heavy, low quality fuel oil used in power plants and factories. The main type of bunker oil for ships is heavy mazut, derived as a residue from crude oil distillation.
