According to Titresanat, this refining company increased its refining capacity from about 312,000 barrels during the first half of 1403 338,000 barrels in the same period in 1404, an 8.3% growth achieved through continuous improvement of refining processes and implementation of optimization projects
Alongside the growth in production indicators, the company’s financial statements for the first half of 1404 show significant increases in sales and profitability compared to the same period in 1403, placing Bandar Abbas Oil Refining Company at the top among refining companies nationwide
The CEO of Bandar Abbas Oil Refining Company commented on factors influencing the growth in performance indicators: increasing utilization rates and improving production processes by implementing control programs to maintain processes at optimal operational points, cost management and supply chain optimization, reducing operating and maintenance costs through a shift from reactive maintenance (repair after failure) to predictive
maintenance to prevent unplanned shutdowns, optimizing energy consumption, and improving profit margins were among the key factors driving the upward trend in the first half of this year
Ahmad Hashemi added: in the sales domain, a remarkable increase in revenue indicates the refinery’s success in leveraging new market capacities. Operating revenue in the first quarter of 1404 grew by 53% compared to the same period last year. This growth, combined with increased selling prices and cost control, led to a sharp rise in profitability
He stated: the net profit of Bandar Abbas Oil Refining Company surged by 435% during this period, while gross profit and operating profit rose by 457% and 506% respectively—all indicating a significant improvement in the company’s financial performance
Referring to development plans, the CEO said: the heavy product quality upgrade project aimed at reducing fuel oil content is among the important quality enhancement projects currently underway. This project will enable production of special products such as propylene with an annual capacity of 400,000 tons. These efforts, in addition to meeting domestic market demands, will also strengthen the company’s export performance. With the completion of these projects and optimal use of new infrastructure, Bandar Abbas Oil Refining Company is advancing toward becoming an advanced petro-refinery with diverse products and high added value
Mr. Hashemi concluded: the performance results of Bandar Abbas Oil Refining Company during this period demonstrate collective wisdom, teamwork, and dedicated efforts toward optimal management, continuous development, and increasing profitability
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