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The first phase of Iran’s Persian Gulf Star refinery will come on stream with 120,000 barrels output, said Mahmoud Shiri, managing director of Ta’min Oil, Gas, and Petrochemical Investment Company.

The first phase of the project will be inaugurated by the end of the current Iranian fiscal year (March 20, 2016), Iran’s IRNA news agency quoted Shiri as saying August 7.

Once the refinery comes on stream, it will produce 12 million liters of gasoline and 4 million liters of diesel, meeting euro-4 standard, he noted.

The project has progressed by 84 percent, he said, adding that $3.8 billion will be invested in the project. The second and the third phases of the refinery will come on stream four months after inaugurating the first phase, he said.

Iran's Oil Minister Bijan Namdar Zanganeh said in August 2014 that Persian Gulf Star refinery will solve the problems with country's gasoline and diesel oil in quantity and quality once it comes on stream.

The minister remarked that Persian Gulf Star will be the country's most important refinery project and second oil industry project after South Pars Gas field project.

Meanwhile, Shahrokh Khosravani, deputy director of National Iranian Oil Refining and Distribution Company (NIORDC), said that once the Persian Gulf Star refinery's gasoline production unit comes on stream, the country's total production capacity will reach 96 million liters per day.

"Then Iran will be able to export the surplus gasoline, which is around 20 million liters per day," he noted.

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