News ID: 275842
Published: 0332 GMT October 22, 2020

PGSR’s exports up by 120% in H1 despite sanctions

PGSR’s exports up by 120% in H1 despite sanctions

Chief Executive of Persian Gulf Star Refinery (PGSR) said that export of products from the refinery surged 120 percent in the first six months of the current Iranian calendar year (from March 21 to Sept. 22).

Mohammad Ali Dadvar bade the announcement on Thursday the growth in exports of the refinery’s products occurred despite unjust US economic sanctions, Mehr News Agency (MNA) reported.

He termed unjust US economic sanctions imposed in the field of export of oil products and following irregularities caused by the outbreak of the novel coronavirus, COVID-19, in severe fluctuations in oil price and demand ‘effective’.

He emphasized, “However, the company managed to increase its export to other countries relying upon its expert and talented manpower.”

The Persian Gulf Star Refinery (PGSR) locates in the southern city of Bandar Abbas in Hormuzgan Province.

Giant steps have been taken in eyeing global markets and promoting export of its products to foreign countries, the CEO of the refinery added.

Referring to the increase of the company's marketing activities in East Asia to identify new market opportunities, the CEO of the Persian Gulf Star Oil Company said, “We have achieved implementation of a suitable model to meet the demands of the market by prioritizing the interests and materials of the company, which has ensured our further success in this field.”

The refinery managed to export more than 800,000 metric tons of four products including light naphtha, medium naphtha, heavy cut and solvent in the first half of the current year, showing a 120 percent growth as compared to the last year’s corresponding period.

Resource: MNA
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