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EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Wednesday that Persian Gulf Star Refinery (PGSR) will be operational by end of the current Iranian calendar year of 1395 (to end on March 20) or early next year (to start on March 21, 2017).

Speaking to reporters after weekly cabinet session on Wednesday, Zangeneh commented on cooperation with Chinese companies, and said these companies are Iran’s strategic partners. 

Zangeneh said for the time being, the first section of the PGSR has been operational and the second section, relating to distillation, has received feedstock, according to IRNA.

He noted that the Petroleum Ministry officials and staff are round-the-clock busy to ensure the PGSR operation soon. 

Managing Director of Tamin Petroleum & Petrochemical Investment Co. (TAPPICO) Mohammad-Hassan Peyvandi had said already that his company has a lion’s share – 49 percent – in the PGSR.

Peyvandi said about 33 percent of the refinery’s share belongs to the oil funds and about 18 percent to the National Iranian Oil Refining and Distribution Company (NIORDC).

The official said the PGSR will produce 360,000 barrels per day of oil.

Bijan Zangeneh Iran oil Iran Refinery Persian Gulf Star Refinery PGSR