BAKU, Azerbaijan, October 22. The capital of Iran’s Bandar Abbas Refining Company has surged by 205 percent, reaching 410 trillion rials (about $719 million), up from 134 trillion rials (about $236 million), said the company’s CEO, Ahmad Hashemi, Trend reports.
Speaking at an extraordinary company meeting, Hashemi said the capital increase aims to strengthen the company’s financial structure, enhance production infrastructure, and boost competitiveness. He emphasized that with the increased capital, the refinery will focus on development projects, play an active role in the country’s fuel supply, and generate additional value for shareholders.
The Bandar Abbas Refinery processes 380,000 barrels of crude oil and gas condensates daily, making it the third-largest refinery in Iran. The plant produces a range of products, including liquefied gas, gasoline, white oil, diesel, mazut, solvent 402, lube cut, and sulfur.
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