Iranian imports of refined fuels have sharply reduced since a new refinery began its operations, trade sources say, Reuters reported.
The Persian Gulf Star gas condensate refinery began operations in April 2017 and enables Iran to refine fuel domestically. The facility will be able to process up to 360,000 barrels of gas per day after becoming fully operational, according to Hydrocarbons Technology.
Gasoline imports are set to fall to roughly 20,000 b/d for March, compared to 34,300 in both January and February and 85,700 b/d in December, according to trade sources and shipping data.
Iran’s gasoline consumption reached an average of 520,000 b/d for January to March of 2018.
The decreased need for refined fuel imports comes due to the second phase of the Persian Gulf Star Refinery at Bandar Abbas, which started in recent weeks. The refinery condensate to gasoline and Naphtha, its capacity has doubled to 240,000 b/d since the new phase launch. Production is still to be increased but trade sources say that the end product may not meet the highest quality Euro IV specifications.