Persian Gulf Star Refinery’s 1st LPG consignment traded in IRENEX

June 10, 2018

TEHRAN- Persian Gulf Star Refinery’s first consignment of liquefied petroleum gas (LPG) was traded in Iran Energy Exchange (IRENEX) on Sunday, Shana news agency reported.

The 2,000-ton consignment was offered at the price of $585 per ton in the international ring of the physical market of IRENEX.
Seyed Ali Hosseini, the managing director of IRENEX, mentioned the offering and trade as successful.
Iran’s Persian Gulf Star Refinery in the southern province of Hormozgan is the first of its kind designed based on gas condensate feedstock recovered from South Pars gas field which Iran shares with Qatar in the Persian Gulf.
Construction of the refinery started in 2006, but the project was delayed as the result of some mismanagement and also financial limitation due to the West-led sanctions against Iran.
Planned to have a total crude oil processing capacity of 360,000 barrels per day, Persian Gulf Star is projected to be complete by the end of current Iranian calendar year (March 20, 2019).

MA

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