Financial Tribune - Construction work is over on the first stage of the fourth phase of Persian Gulf Star Refinery in southern Hormozgan Province, chief executive officer of the National Iranian Oil Refining and Distribution Company said Tuesday.

"The project has raised the refinery's condensate processing capacity by 40,000 barrels or 11%," Alireza Sadeqabadi was quoted as saying by IRNA.

An estimated 400,000 barrels per day of gas condensate is supplied to the complex from the giant South Pars Gas Field off the Persian Gulf, he said.

Phase four has increased PGSR's processing capacity by 120,000 bpd and NIORDC is now refining half a million barrels of condensates per day.