TEHRAN – Iran’s Lavan Oil Refining Company (LORC) has used over 25,000 domestically-made equipment items in recent years which has saved the company over 8.98 trillion rials (about $30.2 million), the company’s managing director announced.

According to Mohammad-Ali Akhbari, in recent years, LORC has been able to benefit from the capacities of domestic knowledge-based companies and producers by forming a domestic manufacturing committee in the company.

“Domestic producers have managed to produce over 2,200 commodity groups including about 25,000 different items for the first time at the request of Lavan Oil Refining Company,” Akhbari said.

The head of Lavan Oil Refining Company said LORC achieved the best performance in terms of profitability among the country’s refining companies in the first six months of the current Iranian calendar year (March 21-September 22, 2021).

Based on comparative statistics for the first six months of this year, the company’s profits increased 225 percent compared to the same period last year, the official noted.

Elsewhere in his remarks, Akhbari addressed the social responsibilities of Lavan Oil Refining Company and said the company has taken many steps in this regard so far, including the construction of Shahid Ghasem Soleimani wharf, reconstruction of schools, reconstruction of asphalt of roads, and establishing Lavan clinic. 

In addition, the refinery has also created job opportunities for more than 350 locals, he added.

LORC is based in Lavan Island in the Persian Gulf in southern Iran. The company was founded in 1951 under the name of Lavan Distillery Complex and under the supervision of the Shiraz Refinery with a processing capacity of 20,000 barrels per day (bpd).

EF/MA