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PGSR Condensate Processing Capacity to Double

With the Persian Gulf Star Refinery becoming fully operational, the feedstock allocated to the plant will nearly double.

The refinery, located in the city of Bandar Abbas, Hormozgan Province and being developed under three phases, is currently partially active with a capacity of 200,000 barrels per day of condensate, a type of ultra light crude extracted from the giant South Pars Gas Field in the Persian Gulf.

The second phase is being implemented gradually. Once all the units go on stream, PGSR's processing of gas condensate will increase to 360,000 bpd, Shana, the Oil Ministry's news agency, reported.

The refinery, which is the largest gasoline producing plant in the country, will produce 36 million liters of high-octane gasoline to wean Iran off the import of the fuel product.

Each of the three phases are designed to produce 12 million liters a day of Euro-5 grade gasoline, 4.5ml/d of Euro-5 diesel, 1ml/d of kerosene and 300,000 liters of liquefied petroleum gas a day.

The gas condensate to be refined is supplied from the offshore South Pars Gas Field in the Persian Gulf.

With the rise in domestic demand, Iran's export of the ultra light crude is expected to reduce significantly, and subsequently, gasoline import will decline. Iran shipped out nearly its entire condensate output. The figure stood at 180 million barrels last year, which breaks down to 490,000 bpd.

The country is expected to import 9 million liters of gasoline per day in the first quarter (March 21-June 21), which shows a decline from over 12 ml/d, thanks to PGSR's inauguration in April 2017. 

According to Mohammad Reza Mousavikhah, the head of National Iranian Oil Products Distribution Company, gasoline import will decrease by 50% in summer (June 22-Sept. 22).

With the development of more units, the figure is predicted to halve in the second quarter. Therefore, as more units come on stream in PGSR, a lower amount of fuel will be imported.

The refinery is slated to finally make Iran self-sufficient in gasoline production and help the nation export gasoline and other high-value products.