Persian Gulf Star Oil Company (PGSOC)

Persian Gulf Star Refinery, also known as Bandar Abbas Gas Condensate Refinery, is a new gas condensate refinery being developed near Bandar Abbas, Iran. It will have a processing capacity of roughly 360,000 barrels of gas condensate a day upon becoming fully operational in 2018. The facility is owned by Oil, Gas and Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%). The project is estimated to be completed at a cost of approximately $3.4bn. Phase one of the refinery was officially inaugurated in April 2017, while the first shipment of gasoline was delivered for distribution in June 2017. The remaining two phases are scheduled to be commissioned by May and March 2018. The refinery will produce high-quality gasoline in order to make Iran self-sufficient in gasoline production. It will also enable the nation to export gasoline and other high-value products to foreign countries. The gas ...